Loyola University Maryland

Office of Financial Aid

Federal Loan Disbursement and Refund Policy

Loan Disbursement

The proceeds from a Federal Direct Grad PLUS 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 Grad PLUS Loan master promissory note and online Entrance Counseling has been completed. Students who have borrowed through the Federal Direct Grad PLUS 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.