PLUS Loan Management - BankMobile Disbursements
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PLUS Loan Management

The BankMobile Disbursements PLUS Refund Management® Service gives parents a fast, easy way to send PLUS loan funds to their students. By providing multiple options for students to receive their funds, your institution can offer parents more control of their PLUS loans.

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Benefits for parents & students:

  • Easy way to securely and efficiently send PLUS loan refunds directly to students
  • Parents have the option of receiving a paper check or electronically forwarding funds to their student via the same delivery method they use to receive their financial aid refunds
  • Students are offered the option of using our BankMobile Vibe account designed specifically for students with access to over 55,000 fee-free Allpoint® ATMs, money management tools and a one-of-a-kind recognition program
  • Parents have the option of using the ePLUS parent portal allowing for easier management of their PLUS Loans

Benefits for your institution:

  • Fast way to securely and efficiently send PLUS loan refunds directly to students
  • With paper check or electronic disbursement options, PLUS loans become as easy to manage as all other refunds
  • Educational materials for schools available in our online storefront
  • With access to the online ePLUS portal, parents can manage their students’ directly online
  • BankMobile notifies both parents and students when a refund has been disbursed and the timeframe in which the funds will be available

ePLUS

ePLUS is an online resource parents can use to help them manage their PLUS Loan refunds. It’s a fast and easy way to send money directly to their students and manage different accounts or loans used to send their students money.

Refund Choices

Deposit to an existing account
Money is transferred to an existing account the same business day BankMobile receives funds from your student’s school. Typically, it takes 1 to 2 business days for the receiving bank to credit the money to the students account.

Deposit to a BankMobile Vibe checking account
If the student opens a BankMobile Vibe checking account (upon identity verification), money is deposited the same business day BankMobile receives funds from your student’s school.

*At some schools, paper check is an option.

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