Disbursements and Refunds for Private Education Loans
Loan disbursements begin 3 business days prior to the start of each term. The timing of your loan disbursement depends on the loan period you choose. Your total loan amount is spread equally across the number of semesters or trimesters you choose when making your loan request.
- If you select a fall - spring loan period, there will be two disbursements. Half of your loan will disburse at the beginning of the fall term and the other half at the beginning of the spring term.
- Students in trimester programs may have their loan cover the fall, spring and summer terms. If you select a fall – spring- summer loan period, there will be three disbursements. One third of your loan will disburse at the beginning of each term.
- If you select a single term loan period, there will be one disbursement at the beginning of that term.
You are notified when funds are posted to your account. If you decide you do not need these funds, you should notify Student Financial Services as soon as possible.
Refunding of Credit Balances
A credit balance occurs when students have funds credit to their account that exceed their direct charges.
Credit balances are refunded directly to the student. The University will refund credit balances no later than 14 days after the first day of classes, or 14 days after the funds were applied to a student's account, whichever comes last.
Regulations stipulate that a student's unpaid charges on their bill must be satisfied before a refund can be processed.
We encourage students to set up Direct Deposit if they anticipate receiving a refund.