Skagit Valley College partners with BankMobile, a third party servicer, to disburse excess financial aid funds. Additional information about Financial Aid refunds can be found below.
How do I get my Financial Aid refund?
Soon after you submit your Financial Aid Data Sheet to our office, you will receive correspondence from BankMobile. This will be mailed to the address you have on record with the SVC Enrollment Services Office.
BankMobile Disbursements will send you a Refund Selection Kit in a bright green envelope that contains a unique personal code that you’ll need at RefundSelection.com to select how you’d like to receive your funds. Your options will include: deposit to another existing bank account, a paper check, or electronic deposit to BankMobile Vibe, an optional account. Once you receive your Refund Selection Kit you need to do the following:
- Go to RefundSelection.com.
- Enter your unique Personal Code from the green envelope.
- Create your login information.
- Select how you would like to receive your refund.
- Complete your profile.
Refunds are disbursed according to the preference you select.
How do I know if I am getting a Financial Aid refund?
If the total of your grants and loans is less than your tuition and fee charges, you are not eligible for a refund and must pay the outstanding balance by the tuition due date to avoid issues with your account and registration.
If the total of your grants and loans is greater than your tuition and fee charges and you have set up your refund preference as noted above, you will receive a Financial Aid refund for any Financial Aid funds that remain after your tuition and fees are paid. ***Please be advised that you must complete additional steps in order to receive loan funds. See Federal Direct Loans - Getting Started for more information.
When are Refunds Disbursed?
Each quarter, the first batch of financial aid and scholarship refunds will be released by BankMobile no earlier than the first business day before the start of the quarter. Depending on your refund preference selection, funds will be available, at the earliest, the day before the first day of the quarter. If you delay in making your refund preference selection, you will experience a delay in receiving your funds. To ensure that your refund is sent in the first batch, please refer to the “How to Avoid Problems and Delays” question below.
How do I avoid problems and delays receiving my refund?
- Register for classes well before the quarter starts, preferably prior to the tuition deadline for that quarter.
- Do not make last-minute changes to your schedule, including adding or dropping classes. Wait-listed classes do NOT count as courses you are enrolled in for Financial Aid.
- Register for 12 or more eligible credits (full-time), or promptly complete an Enrollment Revision Form if you know you will be enrolled in fewer than 12 credits. In order to give our office enough processing time, we strongly recommend you complete all registration activity prior to the tuition deadline for that quarter. Check the Financial Aid Portal to make sure your award has been adjusted prior to the start of the quarter. Note that some classes are not considered eligible for financial aid. You are only eligible to receive aid for courses that meet requirements for your program of study.
- Meet all Satisfactory Academic Progress requirements the prior quarter.
- Meet all Financial Aid Office deadlines.
- Read all online materials provided by the Financial Aid Office and keep copies of your award information, including FAFSA data.
- Be sure you do not owe a debt to the college from prior quarters’ fees, etc. This includes math lab fees, unresolved testing, parking, or other fees, as well as unpaid tuition from previous quarters.