eRefund will be changing
We are pleased to announce that COCC and US Bank have joined together to provide our student refund services beginning in Fall of 2014. Our relationship with our current processor, Sallie Mae, ended June 30, 2014.
How will I receive my refund during this transition?
- All refunds will be sent by check to your address on record. Please be sure we have an accurate address on your Bobcat Web Account.
- Once US Bank has been set up as our refund processor in the Fall of 2014, you will have a choice of refund methods.
What refund methods will US Bank offer?
- Direct deposit to an existing checking or savings account
- Pre-paid debit card
- If you do not choose either method above, your refund will be sent by check to your address on record.
Will my chosen refund method and the bank account information I have set up with Sallie Mae carry over to US Bank?
No, you will need to sign up for your new method with US Bank and provide banking information if you choose direct deposit.
What happens to my bank information I have supplied to Sallie Mae for refunds?
Federal and state banking rules require Sallie Mae to retain customer records for a minimum of five years. The data is stored is a secure location and is only used for research purposes as questions or concerns arise, and no information is used for marketing purposes or sold to any third parties.
How will I know when I can choose my refund method with US Bank?
COCC will be sending communication to all students as soon as the ability to sign up for a refund method with US Bank is available.
Why is this change happening?
Sallie Mae was bought out by Higher One and COCC
opted to partner with US Bank rather than Higher One for these services.