Policy: Financial Aid Refund Disbursement

Document Number: 1.041
Title: Financial Aid Refund Disbursement Policy and Procedures
Effective Date:
Revised Dated: 10/3/18; 10/12/18; 8/14/19

POLICY

Refund Options:

Student aid is awarded and disbursed by academic term or semester. River Parishes Community College begins disbursing aid after the 14th class day of the term or semester, assuming all requirements are met.

Application review, verification (if selected), and awarding of aid must be completed before aid can be disbursed. All financial aid is disbursed directly to a student’s LOLA account. The funds are used to pay tuition and required fees, along with book voucher purchases, if applicable. Any remaining credit balance is issued to the student as a refund. River Parish Community College has partnered with BankMobile to deliver your financial aid refund. Visit BankMobil’s Refund Choices page for more information.

Each student will need to log in to their LoLA account and chose a refund preference.

1. Deposit to An Existing Account – Money is transferred to an existing account the same business day BankMobile receives funds from the college. Typically, it takes 1-2 business days for the receiving bank to credit the money to the students account.
2. Deposit to a BankMobile Vibe Checking Account – If the student opens a BankMobile checking account (upon identity verification), money is deposited the same business day BankMobile receives funds from the college.

River Parishes Community College will NOT issue refund checks, so students MUST select a refund preference.

How to Select Your Refund Preference

Please follow the instructions below to select your refund preference:

1. Log in to you LoLA account
2. Go to the STUDENT Tab and then to the ACADEMIC LINKS section. Under RIVER PARISHES COMMUNITY COLLEGE, click on SELECT REFUND CHOICE.
3. Select how you want your refund delivered.

BankMobile is a Division of Customers Bank. To view details of the RPCC contact with BankMobile, visit the RPCC Client Contracts and Profile page.