Financial Aid Disbursements

Financial Aid Disbursements and BankMobile

You’re awarded some financial aid - now what?

Your awarded grant, loan and/or scholarship aid for the term is applied toward your tuition, fees, and bookstore charges FIRST. You don’t have to tell us to apply it; we’ll do it automatically after the add/drop deadline in week 2 of term (except “first-time borrower” loans). Check “Disbursements” on your MyFinAid account to see when your aid is due to disburse.

If you have excess financial aid after your charges are paid, we will refund you the excess starting the second Friday of term.

Rogue Community College delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit BankMobile for more information.
bankmobile disbursements powered by bmtx

View our third-party servicer contract for refund management.

Vocab check!

Disbursement: when financial aid funds are sent to the school.

First-time borrower: if you’re a freshman borrowing student loans for the first time, the funds come in no earlier than 30 days into the term.

How do you set up a refund preference?

Brand new student:

Registration in classes will prompt BankMobile to send you a welcome packet and code via email to use for setting up your refund preference. Make sure you use that code and select a refund preference as soon as possible to avoid delays with your refund. Set up a refund preference, even if you don’t know if you’ll have excess aid.

Please note: you must be 17 or older to set up a BankMobile refund preference.

Returning student:

If you never selected a refund preference, you may not receive a welcome packet if one was sent to you in the past. You can request a new personal code at the Refund Selection website.

If you previously selected a refund preference, you must log in to the BankMobile site and review/update your refund preference. If you can’t get logged in, call BankMobile Customer Support at 877-327-9515 then press option 1 (for English), option 2, option 2, then press 0.

What if I'm not awarded by the add/drop deadline?

The actual date your funds will disburse depends on the date you are awarded by RCC. If not awarded by the second Monday of the term, watch for your award offer. Once you get it, awarded funds should disburse the following week (except "first-time borrower" funds--see above). If you're not awarded enough aid to pay your balance in full by the first payment deadline, you are responsible for paying or setting up the Installment Plan to avoid a penalty.

Per federal financial aid regulations, financial aid awards will no longer be used to pay penalties or late fees. If you have incurred penalties or late fees you must use an alternative form of payment to pay them.

Who can help me with further questions I have about disbursements and refunds?
Contact FinAid Advising if you have questions about financial aid disbursements. Contact [email protected] or 541-956-7379 if you have questions about BankMobile and refunds.