Refunds

Refund Schedule

Note for students receiving financial aid:

Once funds credit to your account, the Alamo Colleges must request the funds from the Department of Education to pay a Pell Grant, FSEOG, or Direct Loan. This multi-day process can be impacted by weekends and holidays.

Alamo Colleges District sends refund files to BMTX, Inc one business day after it appears in a student’s ACES account.

However, that does not indicate the date you will receive your refund. Refund timing depends on your selected refund preference with BankMobile Disbursements, a technology solution, powered by BMTX, Inc.

For additional information or to review your refund choices, please visit: http://bankmobiledisbursements.com/refundchoices/.

New Cash Management Rules

In an effort to protect students and ensure their best interest, the new Cash Management Rule from the Department of Education (ED) requires disclosure by institutions with Tier 1 or Tier 2 relationships of certain key information about the financial accounts offered to their students.

Tier One (T1) arrangements are those between an institution and a third-party servicer where the servicer "performs one or more of the functions associated with processing direct payments of Title IV funds on behalf of the institution" and offers one or more financial accounts under the arrangement, or markets an account to students itself or through another entity. Tier Two (T2) arrangements are defined as those between an institution and a bank under which accounts are offered and marketed directly to students.

All disclosures related to these new regulations and banking services contract will be made on this webpage.

Documents:

Notice for Tier One and Tier Two Status (PDF)
BM Technologies Refunding Service Agreement (PDF)