Disbursement of Awards
Central Arizona College has partnered with Bank Mobile, a financial services company focused on helping students like you get the most out of your money. If you are new to this service, it's only natural that you may have some questions. So, we've put together this guide with Q&A's about Bank Mobile, the process for receiving money from CAC.
The most common type of money Bank Mobile disburses to students are funds left over from Financial Aid awards, loans or grants after tuition has been paid. Students receiving these funds have usually requested this additional support to help with books and living expenses. Other types of money may include reimbursement for tuition overpayment or a dropped class. Bank Mobile uses the term "refund" but CAC uses the term "financial aid disbursements".
Delivery of refund money is a multi-step process. Generally, financial aid awards are credited to the student's account. Financial aid awards in excess of institutional charges will result in a credit balance in the student's account. Once verified, CAC sends the information to Bank Mobile. This often happens in groups or batches based on their bandwidth, capabilities, timelines etc. Once Bank Mobile receives your specific refund information, it is processed as fast as possible and disbursed according to your selection.
You will receive your refund selection kit in the mail at your primary address on file with CAC. Just look for the bright green envelope and please make sure your address is up-to-date.
Visit bankmobilevibe.com to get answers to your questions with EasyHelpSM-our self-service FAQ database available online.