The Business Office processes refunds every working Friday for our traditional undergraduate students unless instructed otherwise by the student. You must have a credit balance on your account to be reviewed for a refund. Please check the Financial Aid Portal in your my.IndianaTech account to make sure all of your financial aid information is completed so the Financial Aid Office can disburse your awards to your student account. Once this is done, if you have a credit balance on your account, the business office has 14 days to send your refund to you.
How it Works
Students in our traditional undergraduate program are billed and refunded per semester unless the financial aid office is otherwise instructed by the student.
The Business Office will bill your semester tuition after the withdrawal period has ended, normally the end of the third week of classes. Once this is completed, the Financial Aid Office will post financial aid funds in the fourth and fifth weeks of class, as long as they have received all the needed documentation.
If the financial aid funds posted to your account total more than your bill, you will have a credit balance. If you have a credit balance, you will be automatically reviewed for a refund. The review process can take up to 14 days to complete.
All Indiana Tech refunds are handled through Bank Mobile. Bank Mobile will alert you when a refund has been processed for you. The Financial Aid Office, the Business Office, and the Warrior Information Network do not have aid disbursement or refund dates available.
To view our institution’s contract with BankMobile, a Division of Customer Bank, click here https://www.vibeaccount.com/swc/doc/landing/6aw10u1q0dole0vflzxi.
Reversal of Financial Aid
There are circumstances which require Indiana Tech to reduce the amount of financial aid that was posted to your account. These circumstances are often the result of a student not registering for enough classes, dropping classes, failing to attend classes, and/or not performing well in classes. When this occurs, the Financial Aid Office reduces the award which results in the appropriate funds being pulled from your student account and sent back to the appropriate loan or grant. If a refund of excess financial aid has already occurred, you will be notified of the need to pay these funds back to Indiana Tech.
Indiana Tech distributes student refunds through Bank Mobile with the following three options for disbursement:
You may choose to have refunds directly deposited into your checking or savings account. With this option, your funds are available two to three days after Bank Mobile receives and posts the refund information.
- You have the option of signing up for a Bank Mobile Vibe Account.
- The card is delivered by mail with instructions for activation.
- With this option, funds are immediately available after Bank Mobile receives and posts the refund information.
- Bank Mobile debit cards can be used for purchases as well as ATM withdrawals. The daily limits for these transactions are $2,500 per day for purchases, and $500 per day for cash withdrawals. Certain transactions are subject to fees.
- Replacement cards can be ordered for a fee of $10 through Bank Mobile. Once the order has been placed, the card will typically arrive in five to seven business days.
- Contact Bank Mobile if your card has been lost or stolen.
If you do not elect to use the refund card or direct deposit Bank Mobile will issue a paper check to the address on the student account 21 days after they received the funds from Indiana Tech.
Additional Information about Bank Mobile
You will receive a personal code in the mail, you will use this code to set up your refund preference. To select your refund preference, go to Bank Mobile Disbursements.
Please understand that your Bank Mobile account is banking account, so Indiana Tech is not able to change or review any account options or issues. If you need assistance with account issues, contact Bank Mobile directly at 1-877.327.9515.
Higher One Accounts are now Bank Mobile Accounts. A new refund card will not be issued to students and students are able to use their current Higher One Accounts as they have previously, the account will now be called a Bank Mobile Account.