Loan Posting to Bill
叠别肠补耻蝉别听loans聽are often a large part of anyone's aid package and financial plan for meeting their聽聽and other educational costs, it is important for students (and parents) to understand the timing and actions associated with the posting of loans to the bill.
聽online via聽聽to understand your financial obligations. Students can also give other persons access to viewing and making payments to their bill via the Catalyst portal.
At the same time, plan for loan processing thresholds so as not to be too tight with financial obligations (i.e., rent due the same day your loan disburses). Being a student can take on a lot of financial obligations, and it is important to create聽good financial planning habits聽to assist you now and in the future.
Securing the Loan
You have been awarded a loan, but that does not mean you have a loan.
In addition to聽accepting an awarded loan, you must complete the聽loan process. Issues like loan entrance counseling, your master promissory note (MPN), and, in the case of a Parent or Graduate PLUS Loan, credit approval must be completed. Loan counseling and the MPN are often done once per loan type for the course of your education. That means your first year will involve more steps whereas securing a continuation of a loan in future years will more likely to occur聽 simply with the acceptance of an offered loan on your聽annual financial aid award offer.
You can always check the status of your MPN by logging back onto the聽MPN Website聽specific to your loan.
First-time 美高梅官网 Federal Direct Subsidized, Unsubsidized and Grad PLUS borrowers must also complete聽loan entrance counseling.
Anticipated Loan Amounts
Anticipated amounts for accepted loans may appear as part of your anticipated aid even it you are ultimately聽ineligible for the funds.聽That is because eligibility for loans will be determined at the time of loan聽disbursement, usually about 10 days prior to the start of the term. Your loan will not disburse if you聽are deemed聽ineligible for the loan聽at that time聽or you have not completed聽all steps for securing聽that loan.
Loan amounts that show on the bill may be different than you expected. Know that loans are often divided over several terms for the academic year. In particular, students planning on聽summer attendance聽will see their annual Federal Direct Loans processed over all three terms based on聽federal regulations.
Loan聽amounts will also account for聽fees聽taken out in the securing of the loan.
Disbursement Date & Loan Posting
With each Federal Direct Loan (for students or parents) secured, the borrower will receive a disclosure statement indicating the anticipated disbursement date. The disbursement dates will be noted for each segment of a multiple-term loan.
Disbursement dates are general and are based on funding being available for processing at 美高梅官网.聽Recognize that it may take up to 48 hours for your loan to be processed聽when all students have the same disbursement date. Additionally, if you are聽not eligible聽for your loan on the disbursement date, your loan will be delayed from posting.
Disbursement dates are an听颈苍诲颈肠补迟颈辞苍聽of the earliest a loan could post to your bill. You can check your聽聽as desired beginning with the disbursement date. However,聽do not聽contact 美高梅官网聽about your loan if you have not completed all聽eligibility requirements聽and at least 3 working days have passed聽from the disbursement date to allow ample time of loan processing for all students.
Aid Not on the Bill?
Prior to the term, accepted aid will show as anticipated.
If you have questions about aid that is not posting against your , always check these basic reasons to self-determine the issue:
- Is it 10 or fewer days until the start of your classes?
- Are you registered for the proper number of hours or co-op?
- Have you accepted the aid as part of your award offer?
- Have you completed all steps of the loan process?
- Are you meeting Satisfactory Academic Progress standards?
Checking these simple steps can often assist you in understanding why aid has not posted to your bill.