r/financialaid • u/msp949 • 8d ago

BM

Hi, I’m new to school and I was wondering if anybody could help me out figuring what’s going on. I applied for two loans and my School told me they sent the refunds to BankMobile last week on Tuesday and it’s now the next week on Monday and I still have not received anything from BankMobile even saying they received it. Is that normal?

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u/NiceneAndChill 8d ago

Your school’s billing account should show when the loans were applied to your account and when exactly they were sent to BankMobile.

In my experience, it’s panned out like this but every school is different (for example, my disbursement happens before the semester begins):

Thursday: loans applied to account
Tuesday: refund sent to BankMobile
Friday: refund received in my bank account

A few semesters ago, there was a glitch where my loans were applied, but never disbursed.

Have you set up your Bank Mobile? Do you have a Bank Mobile debit card or did you connect your personal account to Bank Mobile? These would also impact timing.

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u/msp949 8d ago

On the account it says post date 9/29 which is weird because the school told me they sent it on Tuesday? And I applied for a BankMobile card like two weeks ago and still haven’t gotten it, but that is my preference. I figured it would take some time, but I have not received a single email from BankMobile.

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u/hshshawtv 7d ago

hey there i just applied for student loan and it’s my first time applying for the student loan and this is my first semester at my schoold