Here’s how disbursement works
When certification is received, and after the right to cancel period has expired, your student loan is ready to be disbursed.
- A disbursement is funds that are sent to your school. Loan funds may be divided into multiple disbursements (usually one per semester).
- If you chose a repayment option that requires in-school payments, your monthly payments will begin as soon as your funds are disbursed.
What to do with a student loan refund
Occasionally student loan refunds are issued to students if there are funds left over after college costs have been paid. Keep in mind, these funds are still part of your loan and you will need to pay them back. Here are a couple ways to manage your refund:
Return the funds to us
This helps reduce your total student loan cost.
Use the money for education expenses
Purchase the books, technology, and other things you need.