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!

BANKMOBILE NAMES:

BankMobile Disbursements is now called BM Technologies a wholly owned subsidiary of First Carolina Bank.  References may use all of these names over the transition year.  If you are ever unsure of leigitmacy of a communication, please check with us!

LOGOS:

Below you will see the prior logo and the new logo for familiarity.

bankmobile disbursements
bankmobile disbursements

Our school delivers your refund with BankMobile Disbursements, BM Technologies, Inc., a wholly owned subsidiary of First Carolina Bank, Member FDIC and Equal Housing Lender - 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.  They will never ask you to submit information in an email or a spreadsheet / google doc, without logging into their site.  

student Refund initial Preference Set Up

Students navigate to www.refundselection.com.   This is where students choose how they want to receive their refunds. Students can also change their refund choice at any time - see below!

  1. Student navigates to www.refundselection.com
  2. Enter the personal code received by KU email or when you selected Need a Code.
  3. Validate identity - 8 characters only, no spaces, dashes or slashes
    • MMYY of birth (month and year not day)
    • #### last four of Student ID that starts with a P
  4. 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 - If an overpayment is the direct result of a parent loan OR a parent PLUS loan, the parent decided on the loan application if they wanted any overpayment refunds to go to them as the borrower or to the student.  This can be changed by the parent prior to refund release.

Refunds to the borrower (parent) are released via a paper check mailed from BM Technologies 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.

  • How do I select a refund preference?

    Navigate to www.refundselection.com .  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 thereafter.

  • What are the refund choices exactly?

    Students choices may vary by their complete refund account set up or limitations from this process.  Most students select direct deposit.  If the student has no refund preference on file, a paper check is mailed from BM Technologies to the first address we supplied them.  KU does not update addresses.  The default paper check is 21 days after we release refunds and will expire quickly in 90 days. 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?

    BM Technologies Customer Care 1-877-327-9515 from 8am to 11pm ET, 7 days a week excluding holidays.

  • 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). 

    You may find an in-network ATM by visiting the Allpoint Locator.  ATMs may be added/removed from the Allpoint network periodically.  As a result, BankMobile / BM Technologies encourages you to check the Allpoint Locator frequently and before visiting an ATM to determine the closest in-network ATM.  Allpoint ATMs may not be available 24 hours a day, 7 days a week.  The location, availability, and hours of operation of in-network ATMs may vary by merchant and are subject to change. 

    BankMobile / BM Technologies also encourages you to check the ATM itself for any disclosed fees before withdrawing money.  If you use a non-Allpoint Network ATM for a withdrawal, you may also be charged a fee by the ATM owner/operator, even if you do not complete a withdrawal.  This ATM fee is a third-party fee amount assessed by the individual ATM operator and is not assessed by us.  If you believe that BankMobile / BM Technologies has incorrectly charged you a fee, you may file a fee waiver claim by logging into www.vibeaccount.com , clicking the FAQs logo in the header and then the “Email Support Team” tab.

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