> Financial Aid Refund Disbursement Policy and Procedures
Student aid is awarded and disbursed by academic term or semester. River Parishes Community College begins disbursing aid after the 14 th class day of the term or semester, assuming all requirements are met.
Application review, verification (if selected), and awarding of aid must be completed before aid can be disbursed. All financial aid is disbursed directly to a student's LOLA account. The funds are used to pay tuition and required fees, along with book voucher purchases, if applicable. Any remaining credit balance is issued to the student as a refund.
Each student will receive a Higher One-My One Card in the mail after registering for classes. Students are given three options to receive their refunds:
1. Higher One Account - This option allows you to set up a checking account with Higher One. If you select this option, the Higher One-My One Card you received becomes an active debit card linked to your new Higher One bank account. You will have access to a complete online banking experience. You may also access a Higher One ATM located on campus in the Student Center. Funds may be available in as little as 1 business day after being transmitted to Higher One.
2. A bank ACH transfer - This option allows you to have your funds directly deposited into the bank account of your choosing. In this case, the Higher One-My One Card is simply used to communicate with Higher One. The card does not contain funds and does not link to your personal bank account. Funds are usually available within 2 to 3 business days after being transmitted to Higher One.
3. Physical paper check - For those who would prefer to receive a paper check in the mail, you can elect to be sent a refund check from Higher One to your home address. In this case, the Higher One-My One Card is simply used to communicate with Higher One. The card does not contain funds and does not link to your personal bank account. Funds are typically mailed within a few business days of being transmitted to Higher One.
How to Select Your Refund Preference
Please follow the instructions below to set up your refund disbursement preference:
All students receiving financial aid should have received a Higher One-My One Card in the mail. If you have your Higher One-My One Card you can go to www.myonemoney.com to register with Higher One and select your refund preference.
If you have lost or misplaced your Higher One-My One Card you may request a new card. To do so, see the Business or Financial Aid Office. You will receive your new Higher One-My One Card within 7-10 business days.
Please note - if you do not select a preference online, Higher One will hold your funds for 21 days before releasing the funds to you in the form of a check. To help avoid this delay, please follow the directions above to select your refund preference.
The speed of refund disbursement services is dependent on the information the campus has on file. If you are not sure that River Parishes Community has your current mailing address, take a moment to visit LOLA account to update your address information today. Because Higher One-My One Card will be mailed to your current address on file, it is critical that you keep your address up-to-date in our system.
Please note: A student must maintain financial aid eligibility for an award to be disbursed and a refund generated.