Don't Delay School Refunds To Your Student
Help your student choose how they want their money delivered today!
Your student’s school partners with BM Technologies, Inc. to deliver refunds with our disbursements program. Schools refund money to students who have leftover funds from financial aid, loans, or even from a dropped class. Selecting a refund delivery method with our disbursements program ensures your student will receive their funds in the quickest, most reliable, and safest method possible.
Your student can have access to their funds either same business day or up to 2 business days, depending on their choice. A refund delivery method should be selected even if they are not expecting a refund. There could be a refund in the future, and your student can be prepared to receive their money without delay.
If a refund preference is not selected, it may take up to 21 days for your student to receive their money. Don’t let them wait!
We will always offer two electronic options for receiving school refunds:
Transfer to an existing account
Money is available 1 – 2 business days after we receive the funds from the school (upon identity verification).
Deposit to a BankMobile
Checking Account
Money is available (upon identity verification) the same business day we receive the funds from the school.
To select your refund preference:
Step 2
VERIFY your identity. This will include a one-time passcode (OTP) sent to your mobile phone.
Step 3
SELECT how you’d like to receive your money.
Understanding the refund process:
RECEIVING: The school receives a student’s financial aid, loan, or grant money from the respective provider.
CALCULATING: The school then subtracts their tuition and fees from this amount. The leftover money is known as a refund.
PROCESSING: After the school process the refund, they send the money to us.
DELIVERING: We release the funds according to the student’s selected delivery method the same day we receive the funds from the school. It may take up to 21 days for your student to receive their money if no preference is selected.
FAQs
Our disbursements program is a service provided by BM Technologies, Inc. that helps colleges and universities across the U.S. deliver refunds to students. We have been helping students for over 20 years! In fact, we partner with over 700 campuses, serving one in every three students receiving refunds in the U.S.
Schools refund money to students who have funds leftover from financial aid awards, loans, or grants. Refunds can also come from overpayments and dropped classes. Students need to have access to this money as soon as it is available.
Students need to visit RefundSelection.com and select how they would like any possible refunds delivered to them. If they do not choose their delivery preference, it could take up to 21 days to receive their money.
By choosing an electronic option, students can receive their money the same business day or up to 2 business days from when we received the funds from the school. If your student attends one of our partner schools, they will receive emails with instructions for how to start the process of choosing how they want their money delivered. If they can’t find the emails, they can simply visit RefundSelection.com .
Your student might not currently expect money from their school, but they may receive a refund in the future. After all, they may drop a class, make an overpayment, or apply for a loan to pay for off-campus housing, for example. Establishing a refund preference now ensures they will always have this money without delay.
Please note, there may be circumstances where your ability to change your refund preference may be restricted. For example, if we become aware of potential ID theft or compromised account.
Get easy answers anytime by using our online FAQ database
Visit RefundSelection.com
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