Student Loan |
| How Student Loans are Disbursed Posted: 18 Oct 2010 12:33 AM PDT You may not know how student loans are disbursed if you know that private student loans are disbursed directly to students. You may think it is different. You have been approved for financial aid for college so why are your student loans disbursed? In fact, how student loans are disbursed, depends on your school or college policy. Yes, each college has its own policy. Your school has used your FAFSA (Free Application for Federal Student Aid) to determine the student loan amount you qualify for, and you are registered for your classes. Not all colleges or universities disburse federal funds from student loans right away. Federal funds are often disbursed after the student has confirmed attendance in the second term, and the student's account holds a balance due until that time. But if you’re a first-year undergraduate student or you are considered as a first-time borrower, your student loans will be not disbursed until 30 days after the first day of your enrollment period. If you are still unsure how your federal student loan will be disbursed to you, you should contact your school's financial aid department. Some schools require direct deposit, some mail the check, some schools require you to go get it from the business office, so it is suggested to call the business office in order to ask what that school’s policy is concerning the checks.
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