Financial Aid Refund Process
Financial Aid recipients should receive refunds during the fifth week of the semester. This allows the Financial Aid Office time to verify the number of credit hours you are taking and the Student Accounts department to process all bookstore credits. Financial aid eligibility will be paid based on the actual number of *fundable credit hours students are registered in at the end of the third full week of fall and/or spring semesters. If your file is completed after the start of the semester, your refund may to take approximately two to three additional weeks to process. Students enrolled in courses that begin later in the semester will not be paid until after those classes begin and attendance has been verified.
Verification of Student Enrollment and Attendance
St. Louis Community College will utilize our Banner XE attendance tracking module to release financial aid funds on to student accounts. The amount of aid released will be based on the numbers of credit hours attendance has been recorded and verified in the system at the end of the fourth full week of classes for fall and/or spring. Students enrolled in courses that begin later in the semester will not be paid until after those classes begin and attendance has been verified. Verification for classes that start later in the semester will be performed weekly.
In order to receive student aid funds, class attendance/participation is required to maintain student aid eligibility. Students receiving financial aid assistance must attend and participate in classes.
Determining Student Refunds
Financial aid funds are applied directly to each student's account with the college in order to pay balances of tuition, fees and bookstore charges.
After the student account charges have been cleared, any remaining credit balance (overpayment) will be refunded to the student.
Deposit of Refund
St. Louis Community College delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoicesid/.
Students should visit STLCCOneCard.vibeaccount.com to select a refund preference in order to receive their financial aid refund in a timely manner.
After all the above steps are complete and the Financial Aid department has reviewed each student account and disbursed financial aid, any remaining credit balances are deposited according to the student's refund preference selection.
Initial student aid refunds are deposited to each student's selected refund preference approximately 5 weeks after the beginning of classes. This process will run weekly throughout the semester until all refunds have been distributed. Students enrolled in classes that start later will receive their refunds processed weekly once attendance has been verified.
*Fundable credit hours are classes that go toward your current declared program or degree of study.