> Financial Aid Refund Disbursement Policy and Procedures
Student aid is awarded and disbursed by academic term or semester. River Parishes Community College begins disbursing aid after the 14 th 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.
Each student will receive a Refund Selection kit in the mail after registering for classes. Students are given three options to receive their refunds:
Electronic Deposit to Another Account : Money is transferred to another account the same business day BankMobile receives funds from your school. Typically, it takes 1 - 2 business days for the receiving bank to credit the money to your account.
Electronic Deposit to A BankMobile Vibe Account : If you open a BankMobile Vibe account (upon identity verification), money is deposited the same business day BankMobile receives funds from your school.
Paper Check Delivered by USPS : A check is mailed the same business day BankMobile receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5 - 7 business days for the check to arrive, depending on USPS First-Class® delivery timeframes.
How to Select Your Refund Preference
Please follow the instructions below to set up your refund disbursement preference:
All students receiving financial aid should have received a Refund Selection Kit in the mail. If you have your refund selection kit with enclosed personal code, you can go to RefundSelection.com to choose your refund preference.
If you have lost or misplaced your Refund Selection Kit, you may request a new kit. To do so, see the Business or Financial Aid Office. You will receive your new Refund Selection Kit within 7-10 business days.
Please note: if you do not select a preference online, BankMobile Disbursements will send out a check for your refund amount to the address on file with River Parishes Community College 21 days after the funds have been disbursed.
The speed of refund disbursement services is dependent on the information the campus has on file. If you are not sure that River Parishes Community has your current mailing address, take a moment to visit LOLA account to update your address information today. Because the Refund Selection Kit will be mailed to your current address on file, it is critical that you keep your address up-to-date in our system.
Please note: A student must maintain financial aid eligibility for an award to be disbursed and a refund generated.
Please refer to the BankMobile Refund Choices page for more information.