Now you can satisfy them and their parents — while pleasing your staff, too — with the Sallie Mae Refund Disbursement System. No more cutting checks. No more high postage costs. No more students clogging your phone lines and waiting area.

All you have to do is send us the refund file. Students simply sign up to receive an electronic ACH credit or continue to receive paper checks. Or they can take advantage of our new and convenient Sallie Mae Debit MasterCard^® card. We take care of the rest.

Benefits

• Validation: We validate your students when they enroll by last name, birth month/year, and student account number. If you do not have student email addresses, we can send a postal mailing for a fee instead of an email communication.
• Banking information: During the enrollment process, students give Sallie Mae their (or their parents') banking information so we can send ACH credits. If they decide not to enroll, we will mail them a check.
• Disbursement: You send us your disbursement file; we deposit the funds via ACH to enrolled accounts (or send a check to those who haven’t enrolled). Sallie Mae ACH debits your account for the total of the payment file. We also include reminders about the electronic refund option with mailed checks.
• Tracking: Enrolled students can track their payment status online.
• Returns: If an ACH payment is returned, we send those funds electronically to your school's account with the appropriate accounting.
• Stale checks: If a check is not cashed within 30 days, it is returned to your school account with the appropriate accounting.
• No re-enrollment: Once a student has enrolled for electronic refunds, the information stays in our system for as long as the student stays in school. There is no need to re-enroll annually, and students can change or update their ACH information any time.

To learn more about Refund Disbursement, call Business Office Solutions at (800) 531-4300.