National University is excited with the opportunity to participate in a pilot program with Federal Student Aid (FSA). FSA’s myFSApay pilot is an innovative program available to students who receive federal financial aid. myFSApay is a prepaid debit card with an accompanying account that you can use to receive and manage up to $8,000 in funds from financial aid refunds, direct deposited paychecks from a job, and paper checks that you electronically deposit into your account. You can access your money using your myFSApay card1, which can be used in stores and to make online payments, with a daily spending limit of $2,500 and a daily ATM cash withdrawal limit of $500. You can even request paper checks from your card provider that can be written for up to $8,000. The myFSApay account is available as long as you are enrolled at a participating school and receive federal financial aid.
The myFSApay pilot program provides students with an alternative method of receiving financial aid refunds. Many schools offer students options, such as prepaid or debit cards designed for students, to receive a credit balance refund, which occurs if the amount of financial aid you receive exceeds your school’s direct costs. myFSApay is designed to reduce the fees assessed for common types of transactions.
How to Enroll for myFSApay2
- Download or launch the myStudentAid mobile app*
- In the main menu, select “myMoney” and then select “myFSApay”
- Select National University
- Click “Enroll” to be directed to myFSApayVisa.MoneyNetwork.com to get a card – be sure to use your National University email address when you enroll
- Once enrolled in the myFSApay program, you will need to activate your virtual card
- You must update your direct deposit information on the National University student portal with your myFSApay Bank routing and account number, which can be found using the Money Network® Mobile App* or when you log in at myFSApay.MoneyNetwork.com
For additional information on myFSApay pilot program click on the following link for more detail.
*Standard message and data rates apply.
1 To view the limits associated with the myFSApay Card, please click here to see the current Fee Schedule and Balance and Transaction Limit Schedule.
2 When you sign up for an account, you will have to complete a short registration form that includes information like your name, contact information, and Social Security number to verify your identity and establish your account. After you submit your application, you will immediately receive your account information and access to your virtual account from your card provider. The myFSApay card will arrive in 7–10 business days.