The proceeds from a Federal Direct Stafford Student Loan are disbursed in one, two or three equal payments directly to Loyola University. Loan proceeds are deposited in the student's account upon confirmation that an electronic Federal Direct Stafford Loan master promissory note and online Entrance Counseling has been completed. Students who have borrowed through the Federal Direct Loan Program in the past and have an active master promissory note on file are not required to complete a new promissory note.
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.