Refunds

This page deals with refunds from overpayments (financial aid and otherwise). If you are seeking information on withdrawing from KU, consult our withdrawal section.

CURRENT NEWS:

Bad Actors will occasionally attempt to steal information from students knowing that they receive refunds from aid. If you are ever unsure of the sender of an email, even if it says BankMobile Disbursements, please feel free to reach out to our office to help validate this for you!

Our school delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. - you may receive emails or communications from them as a valid partner of KU. They will process all refunds, not just financial aid refunds for KU.

student Refund initial Preference Set Up

Refund choices are selected and updated at http://bankmobiledisbursements.com/refundchoices/. This is where students choose how they want to receive their refunds. Students can also change their refund choice at any time!

Student navigates to www.refundselection.com
Enter the personal code received by mail, KU email or when you selected Need a Code.
Validate identity - 8 characters only, no spaces, dashes or slashes
- MMYY of birth
- #### last four of Student ID that starts with a P
Select one of 2 refund choices - most common is deposit to your existing bank account!

NOTE: A Mobile Phone # will be required for security using a One-Time Passcode (OTP)

Student Refund Verification / Updates

Students who already verified their identity or selected a refund preference will navigate to www.vibeaccount.com to review their information and make any updates as needed. The preference set up will remain in place unless you change it.

Parent Refunds

Parent Refunds - Overpayments that are a direct result of a disbursed Parent Loan, are refunded to the parent based on what they selected on that loan application; to them as the borrower OR to the student.

Refunds to the borrower (parent) are released via a paper check mailed from BankMobile Disbursements only. Allow 2 weeks from the refund release date to receive this check.

Refunds to the student will follow the students refund preference (direct deposit is an option).

Kutztown University can not pre-determine what aid will post in what order and cause the overpayment. Having a Parent Loan does not mean a refund will definitely go to a parent.

Parent Refund Preference Change

If a parent wants to allow the a refund to go to the student after they said they wanted the refund to go to them on the loan application, the parent must complete a Release Form one week BEFORE loans start to disburse. Parent Refund Release Form. This can be completed online, but needs to be printed to sign. Please scan and email the completed request, or fax it to 610-683-4674.

Overpayment refunds are not released until after Financial Aid has begun to release financial aid and only after the Drop/Add period and Attendance has been processed for the semester or session. This will only occur once the account is overpaid with disbursed funds, not pending aid or scheduled payments on a plan. Please plan accordingly for expenses, such as books, at the beginning of the term or session. Refunds may not start until the 5th week of the semester with Aid disbursement starting the 4th week.

What is this green envelope we got in the mail and do I need it?

Yes! A refund selection kit is mailed by BankMobile Disbursements, a technology solution, powered by BMTX, Inc. to guide you through the process of selecting HOW you want to receive refunds, if you are ever issued one, from Kutztown University. Even if you don't expect a refund now - please consider making a choice today since you never know what the future holds. More information can be found here: http://bankmobiledisbursements.com/refundchoices/.
How do I select a refund preference?

Navigate to http://bankmobiledisbursements.com/refundchoices/. If you no longer have the refund selection kit (green envelope mailing), Click on Need a Code to proceed and select your refund preference. We encourage a selection even if you don't anticipate a refund or use financial aid.
If I am expecting a refund - when will I get it?

Refunds are typically processed twice a week throughout the year. At the beginning of a semester or session we may process more frequently.

Aid disbursement starts the 4th week of the semester. Refunds start the 5th week of the semester.
What are the refund choices exactly?

Navigate to BankMobile Disbursements Refund Choices for more information. Remember this process and choice is not only for financial aid refunds, but all refunds a student may be due from their student account.
I made a refund choice a long time ago and can't remember my login information. The Forgot Login Information link isn't helping, what can I do?

Please contact The BankMobile Disbursements Team directly by visiting https://bmtx.com/contact
ATM Access if you chose the BankMobile Vibe checking account can be found on campus and near campus.

In compliance with the new Federal Cash Management regulations governing the refunding of federal funds to students, BankMobile VIBE Checking account holders can now access their funds fee-free at ALLPOINT network ATM's. (Allpoint ATM's vary by location, availability and hours of operation and are subject to change). Local locations include Giant Grocery Store and CVS. The student union building on campus does offer an ATM, Cardtronics ATM, where students with the BankMobile VIBE Checking account can access their funds FREE of charge. Hours of access will be limited to the Student Union hours of operation. Having and maintaining a unit like this is NOT required with recent federal regulations; we elected to do this to help our students have a location on campus to access their funds for FREE.

To view our third-party servicer contract for refund management, click here.