Credit Balance Refund Options

Students that have a credit balance on their account will receive refunds via direct deposit, paper check or loaded onto your own reloadable debit card (not provided by MBU). Missouri Baptist University has partnered with Nelnet Business Solutions to offer this service.

If you choose to receive your credit balance refund via direct deposit or reloadable debit card, you will receive your refund much quicker than if you are sent a paper check and have to wait for the mail (7-10 business days). Students are mailed a check by default when they do not actively choose the faster methods of direct deposit or having a refund loaded on a reloadable debit card. Refunds resulting from a parent PLUS loan are mailed to the parent listed on the PLUS application. There is no alternate delivery option for PLUS refunds.


What is a refund?

You may check your balance by logging into your MyMBU portal. As financial aid is credited to your account, it is applied to all charges first. If the amount of aid you receive is greater than your charges, then you will be refunded the amount of credit. (Institutional scholarships are not eligible to be refunded, they instead would be reduced). If a refund is the result of an overpayment by a check payment, there is a 10 day wait before a refund of the overpayment may be issued.

What is the difference between refund and disbursement?

Students asking when aid will disburse often do not realize the distinction between disbursement and refunding student credit balances. When aid is paid out from outside sources and directed to MBU to be applied to student accounts that is termed disbursement. MBU has 14 days from the date of disbursement to process a refund of credit resulting from Title IV aid. Refunds will be processed according to your preferred refund method.

What is Nelnet Refunds?

It’s a system that allows you to receive electronic refunds of student account credit balances. These refunds go directly into your bank savings or checking account or the newest option which is onto your reloadable debit card that you provide.

What are my options for receiving my credit balance refund? 

Refunds are sent via direct deposit, reloadable debit card or paper check.

How long will it take to get my refund?

Students signed up for direct deposit or reloadable debit card will receive their refund usually within 2 – 3 business days after the refund has been processed. Paper checks are usually received within 7 – 10 business days.

How do I choose my preferred refund method?

  1. Log in to your student account at  https://mymbu.mobap.edu/
  2. Click on MyMBU Access
  3. Click on My Refund. Clicking the My Refund link will authenticate you in Nelnet Enterprise the first time you log in.
  4. Please verify your profile information passed in to the system accurately and fill in any required missing fields and click Submit.
  5. Click on Manage Refunds. Select how you want to receive your refund and fill in the necessary information. Your refund will then be sent using the option that you selected.

Step-by-Step Guide-Choosing a Refund Method

What address will you use for mailing my refund?

Please keep your local address current as this is the address used for mailing student refund. Refunds will be mailed to local address on file with MBU at the time they are processed. If your credit balance is the result of a parent PLUS loan, the address on the PLUS application will be used to mail your refund.

To verify we have correct local address on file log into MyMBU

To review and update your addresses please click on the Edit Profile button in the upper left corner below your name.

You have the ability to update your billing, home and/or your local addresses.

Step-by-Step Guide-Updating Local Address in Portal

The local address is the address you live at while in school – (dorm, apartment, etc.) and is where your refund will be sent. During summer break, this should be changed to your Home address or wherever you will be receiving mail for the summer.

The billing address is the address where your billing statement will be sent.

The home address should be your permanent address.

All addresses need to be kept up to date and accurate to ensure you receive all MBU communications which can include statements, financial aid offers, refund checks, etc.

What are the Refund statuses?

Within Nelnet Refunds, a status column is displayed, which lists the status of the student’s refund. The statuses differ per method of disbursement (direct deposit/reloadable debit card or paper check).

The direct deposit/reloadable debit card statuses are:

  1. Pending: the disbursement record has been created but not sent for processing
  2. Sent to Processor: the direct deposit/reloadable debit card record has been sent to the bank for processing
  3. Success: the direct deposit/reloadable debit card transaction has been sent for deposit
  4. Failed: the direct deposit/reloadable debit card transaction failed due to a problem with the account provided

The paper check statuses are:

  1. Pending: the disbursement record has been created but not sent for processing
  2. Sent to Processor: the check record has been sent to the bank for processing
  3. Printed: the check has been printed by the bank
  4. Cashed: the check has been cashed

What happens if I change banks or want to change which I account is used to deposit my refund?

You can update your direct deposit or reloadable debit card information any time in MyMBU Access by clicking on My Refund  and then Manage My Refunds Account and then Edit Profile.

What if I do not cash my refund check within 90 Days and the check expires?

When a check expires after 90 days, Nelnet will void the check and return the refund to MBU. MBU will attempt to reach you to verify your account information to reissue the refund. If unable to reach you, any Title IV credit balances (credit balances from Direct Student Loans, PLUS loans etc.) will be returned to the Title IV program to comply with federal regulations.

Last year I received a refund and this year I owe money. What happened?

There are several things that can change a student’s financial package from year to year. Each year tuition rates increase and scholarships remain consistent. Students may opt to live in a more expensive dorm than a previous year. Sometimes students do not file their FAFSA by priority deadline of February 1 of the year proceeding and miss out on renewing eligibility for state aid.