What are the options for receiving my refund?
You must select one of the following options:
- Direct deposit into an existing checking or savings account
- Paper check that is mailed to you
- BankMobile Card
What if I don't make a selection?
Although you might not be expecting a student refund now, you may receive money back in the future because you drop a class, make an over payment or receive assistance that you didn’t expect. Making a selection now will ensure you will receive any future refunds without delay.
How do I select the way I want to receive my refund?
All student refunds at NSCC are processed through BankMobile. You will receive a green envelope in the mail from BankMobile, and it will include instructions on how to select your refund preference online.
What if I already asked to have my refund direct deposited or sent via check?
If you previously selected direct deposit to an existing checking account, you will need to confirm that you still want to use that option. When you receive your green envelope from BankMobile, double check that the account information is listed correctly and confirm or make any necessary updates. If you used to receive a paper check and you still want to receive one, simply select that preference when your BankMobile materials arrive.
Will I get my refund faster by enrolling in direct deposit?
By signing up to have your student account refund direct deposited, you will receive your refund faster by not having to wait on a check in the mail (which can take up to 10 business days), but you will not receive it earlier than the scheduled refund date.
When will I receive my refund?
Refunds are processed and released for direct deposit and/or check mailing on Thursday of each week. Financial aid refunds will begin being released as follows for school year 2016-17:
- Summer 2016: July 14
- Fall 2016: October 13
- Spring 2017: February 23
I received the envelope from BankMobile, selected my refund preference, but I never received my refund. Why?
All students are invited to select their refund preference, but not all students receive a refund every semester. First, check to make sure you are due a refund by checking your account details in myNSCC. If your myNSCC account shows that you are due a refund and you have not received it, contact BankMobile support.
What is the difference between disbursement date and refund date?
The disbursement date you receive from the Department of Education is the date the funds are disbursed to the school. The school will verify and apply the funds to your student account. This process takes up to 7 business days. After this is completed, any excess funds on your student account are then processed to be refunded on the posted refund date.
When will my direct deposit be available to me?
Student refunds are released to your bank account on Thursday. Depending on when your bank processes ACH transactions, your funds will be available to you within 1-3 banking days.
Why did I not receive all of my financial aid money?
Financial aid pays based upon the number of credit hours a student is attending. If you are registered for a course that has not started yet, not all of your financial aid will pay until after you have started attending these classes. Secondly, if you take out a loan for one semester only (for example, spring only), federal regulations require that the loan be split into two separate disbursements.