Loan Funds
Federal Stafford Student Loan
Federal Stafford Loan funds are forwarded to the University by
lenders. One-half of your academic year loan is disbursed each
semester.
Federal Staff Loan payments from lenders are processed electronically.
Lenders forward loan funds for you to the University through an
electronic funds transfer process through the National Disbursement
Network. These funds are deposited into a University checking account.
Confirmation of your continued eligibility must be done before your
disbursement is prepared. Your fees will be paid first and any funds
remaining will be prepared in a check and mailed to you or will
be sent to your banking account through Direct
Deposit. See "How Payments are Made" for complete details.
PLUS Parent Loan
Parent Loan (PLUS) funds are sent via EFT (electronic funds transfer) to the University by
lenders. One-half of the academic year loan is disbursed each
semester.
The University will verify the student's eligibility and if no outstanding balance is on the student's university account, Student Financial Services (SFS) will mail a check to the parent borrower. If the student owes money to the University there will be a temporary hold placed on the disbursement until: (1) the balance on the student's account is paid in full or (2) the parent authorizes SFS to pay the outstanding balance using the PLUS loan funds. The hold will then be removed, a check prepared and mailed to the parent borrower. Visit SFS web pages for an online form.
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