OFTC delivers your refund with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. Visit this link for more information: https://bankmobiledisbursements.com/refundchoices/.
To view our third-party servicer contract for refund management, click here.
Frequently Asked Questions
What kinds of money might I receive from OFTC?
- The most common type of money BMTX, Inc. disburses to students are funds left over from financial aid awards, loans, or grants after tuition has been paid. Students receiving these funds has 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. BMTX, Inc. uses the term “refund” but OFTC may have another name for these funds, such as disbursement, residual, or a stipend.
How is my money delivered?
- Delivery of refund money is a multi-step process. First, OFTC draws funds from the respective loan and/or grant provider and applies it to your student account. Once this information is verified, it is sent to BMTX, Inc. Once the specific refund information is received, it is processed and disbursed according to your selection.