Frequently Asked Questions About the Financial Aid Refund
We have partnered with BankMobile to deliver your refund. The brochure, All About Merced Community College District Refunds (pdf), addresses frequently asked questions. We've also highlighted frequently asked questions below:
- How do I get my finacial aid refund?
- What kinds of money might I receive from Merced College?
- Why am I getting a Personal Code?
- How will I get a Personal Code?
- How is my money delivered?
- Can I change my preference for receiving money from Merced College?
- How will I know when my money has been sent?
- What is the BankMobile Vibe account?
- What if I have additional questions?
Look for your Refund Selection Kit. It looks like this:
Once it arrives, simply follow these steps to make your refund preference selection:
- Visit RefundSelection.com
- Enter your Personal Code
- Select how you’d like to receive your money
Your options for receiving your refunds are:
- ELECTRONIC DEPOSIT TO ANOTHER ACCOUNT: Money is transferred to another account the
same business day BankMobile receives funds from your school. Typically, it takes
1 – 2 business days for the receiving bank to credit the money to your account.
- ELECTRONIC DEPOSIT TO A BANKMOBILE VIBE ACCOUNT: If you open a BankMobile Vibe account
(upon identity verification), money is deposited the same business day BankMobile
receives funds from your school.
- PAPER CHECK DELIVERED BY USPS: A check is mailed the same business day BankMobile receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5 – 7 business days for the check to arrive, depending on USPS First-Class® delivery timeframes.
The most common type of money BankMobile disburses to students are funds left over from financial aid awards, loans or grants after tuition has been paid. Students receiving these funds have usually requested this additional support to help with books and living expenses. Other types of money may include reimbursement for tuition overpayment or a dropped class. BankMobile uses the term “refund” but Merced College may have another name for these funds, such as a disbursement, residual or a stipend.
You will use your Personal Code to make your refund selection at RefundSelection.com.
You will receive your Personal Code in the mail at your primary address on file with
Merced College. Just look for the bright green envelope and please make sure your
address is up to date.
Delivery of refund money is a multi-step process. First, Merced College draws funds from the respective loan and/ or grant provider and applies it to your student account. Once this information is verified, it is sent to BankMobile. Once the specific refund information is received, it is processed and disbursed according to your selection.
Yes. Just log in to RefundSelection.com and select “refund preferences” from the “Refund” menu option. Once on the page, simply make your new selection and click the “Update Preference” button to complete the process. Be aware that your new selection will only affect future money you receive from Merced College.
BankMobile will send you an email to the address you entered during setup. You can also view the status online at RefundSelection.com.
Designed exclusively with students in mind, BankMobile Vibe is a checking account that offers the power to bank anywhere, anytime. Plus there’s no monthly fee for students. If you select the BankMobile Vibe account as your refund choice, you will receive a temporary virtual Debit MasterCard® to use until your physical card arrives in the mail.
Visit RefundSelection.com or get easy answers anytime by using our online FAQ database.