Loyola University Maryland

Office of Financial Aid

Federal Loan Disbursement and Refund Policy

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Loan Disbursement

The proceeds from Stafford Student Loans are disbursed in one, two or three equal payments based on the number of terms you plan to attend as indicated in the "Enrollment Information" section of the Federal Direct Stafford Loan Graduate Information Sheet.  Loan proceeds are deposited in the student's account upon confirmation that an electronic Federal Direct Stafford Loan promissory note has been completed. Also, all first-time borrowers through the Federal Direct Stafford Loan Program must complete Direct Stafford Loan "Entrance Counseling" before loan proceeds can be credited. Renewal applicants are not required to complete a new promissory note. Funds not needed to complete payment of University charges will be disbursed by check within the latter of 14 days after the first day of the enrollment period or 14 days after the credit balance occurs. Requests to decrease loan amounts cannot be processed for the remainder of the term after loan proceeds have been deposited into the student's account.

Credit Balance Refund

Loan proceeds that result in a credit balance will be available by check within the latter of 14 days after the first day of the enrollment period or 14 days after the loan proceed deposit occurs.