Aid Disbursement
After you have received an award offer letter, Lake Washington Institute of Technology will send your biographic information to BankMobile Disbursements, a technology solution, powered by BMTX, Inc. For more information about BankMobile Disbursements, visit the BankMobile Disbursements How It Works webpage.
BankMobile will send you a personal code in a bright green envelope that you will need at RefundSelection.com to select how you would like to receive refunds. You will also receive a personal code via email.
In most cases, financial aid will be credited to outstanding tuition and fees first. If you have been awarded more financial aid money than outstanding tuition and fees, the difference will be disbursed to you in a refund. Your award offer letter will give you an estimate of how much aid you have been awarded each quarter.
After you have been awarded financial aid, there are three options to receive your funds:
- Deposit to an Existing Account
Money is transferred to an existing account the same business day BMTX, Inc. receives funds from your school. Typically, it takes 1 to 2 business days for the receiving bank to credit the money to your account. - Deposit to a BankMobile Vibe Checking Account
If you open a BankMobile Vibe checking account (upon identity verification), money is deposited the same business day BMTX, Inc. receives funds from your school. - Paper Check Delivered by USPS
A check is mailed the same business day BMTX, Inc. receives funds from your school, provided receipt is within daily cutoff times. Typically, it takes 5 to 7 business days for the check to arrive, depending on USPS First-Class® delivery timeframe.
How to Receive Your Money Checklist
- Make sure your address is up-to-date with Enrollment Services.
- Activate your LWTech email address (you will use this address to login and select your payment preference).
- Upon receipt of information from BankMobile Disbursements, you may visit the BankMobile Disbursements website and select your preference to receive funds from LWTech.
- Students with questions about their financial aid refund should visit the Financial Aid office.
Timelines
- Aid is disbursed on or after the first day of the regular quarter. Aid cannot be disbursed earlier.
- Students who drop from classes before or on the 10th business day of the quarter, but after aid has been disbursed, may owe a repayment to financial aid. The Financial Aid office cannot increase any grant aid awards for students adding classes after the tenth business day of the quarter.
Students must attend classes to be eligible for financial aid. Students who do not attend a class, or withdraw early from classes, may owe a repayment to the aid program that was awarded. Students that owe a financial aid repayment may not be eligible to receive additional financial aid from any college, and may be subject to collection activity from federal, state, or institutional sources.
View our third-party servicer contract for refund management.
GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government Web site at benefits.va.gov/gibill.