Direct Deposit Information
Signing up
To set up your direct deposit, you will be asked to provide your bank routing and account numbers. Bank routing and account number details can be found on a check or deposit slip.
Refund Disbursement
Your refund will be deposited into your checking or savings account within 1-2 business days after refunds are disbursed.
Need help?
If you would like assistance enrolling in the direct deposit program or have other direct deposit questions, please call the Sallie Mae Service Center toll-free at (800) 239-4211.
Please call 541-383-7229 for assistance with your Bobcat Web Account or COCC specific student refund questions.
Signing Up - FAQ
Is there a fee for the direct deposit service?
There is no fee to students requesting direct deposit of their student refund disbursements. However, your bank may impose a small transaction fee. Please check with your bank for more details.
It is the student's responsibility to enter the bank account information accurately and to keep the information updated if any of the information changes. Any refunds returned due to outdated or inaccurate banking information will be assessed a $12 return fee and applied to the student's Bobcat Web Account.
I am not a financial aid student. Can I still sign up for direct deposit or debit card?
Yes, you are eligible to sign up for direct deposit, Sallie Mae® No Fee Student Checking Account, or paper check.
I do not feel comfortable providing my bank information online. Can I call Sallie Mae with my banking information?
No, your Bobcat Web Account validates your student status during the login and registration process. Using you Bobcat Web Account is the only method currently available for entering or updating student banking information.
Receiving your Refund - FAQ
How long will it take to activate my direct deposit after I sign up?
It will take approximately 4 business days for the banking system to verify that the information you provided is valid. If your refund is disbursed before your direct deposit is activated, you will receive a paper check.
How can I confirm that my request for direct deposit has been successfully processed after signing up or making a change?
Login to your Bobcat Web Account and select eRefund under the Student Services tab. On the eRefund website, select the ‘My Profile’ tab and review your account status in the ‘Bank Account Properties’ section.
It seems to take a long time to get my refund check in the mail. How much faster will direct deposit be?
The direct deposit process will reduce the length of time to receive your refund by approximately 5 – 7 days compared to the normal process of mailing a check.
I signed up for direct deposit but still received my refund check in the mail. What do I do now?
You will be contacted via email if a problem exists with your direct deposit transmission. You should verify the accuracy of your bank account information by going to your Bobcat Web Account and selecting eRefund or by contacting the Sallie Mae Service Center at (800) 239-4211.
I'm not a Financial Aid student. Why would I receive a refund?
Tuition charges and refunds are calculated in accordance with the stated policies in our current catalog and Bobcat Handbook. A student refund is not guaranteed but is based on the tuition, fees, credits, and payments posted to your account. If any action resulting in a credit balance to your account occurs, COCC will initiate the process to refund you as the student. COCC currently runs the refund process twice a week (Mondays and Wednesdays).
Banking Information- FAQ
What if I change banks after I sign up for direct deposit?
You can provide updated bank information at any time by accessing eRefund through your Bobcat Web Account. It will take approximately 4 business days for the change to go into effect.
It is the student's responsibility to enter the bank account information accurately and to keep the information updated if any of the information changes. Any refunds returned due to outdated or inaccurate banking information will be assessed a $12 return fee and applied to the student's Bobcat Web Account.
Can I divide my direct deposit into multiple bank accounts?
No, the system only provides for one bank account to be enabled for direct deposit.
I do not live in the United States but attend classes online. Can I direct deposit into an non-US bank account?
Only US bank accounts are eligible for this student refund direct deposit program.
What if my Direct Deposit date falls on a holiday? Will a holiday or a weekend cause a delay in my direct deposit?
If your direct deposted date falls on a holiday or weekend, the deposit will occur the next business day.
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