Disbursement of Federal Student Loan Proceeds
When you have completed the admissions and financial aid application process, a check for the difference between the amount borrowed and the amount of your University charges will be available for MATCM students on Tuesday of week three of the trimester and for DAOM students on Sunday of the first weekend residency of the trimester in the Bursar's Office unless otherwise notified. Checks that are not picked up within 21 calendar days of the disbursement date or the date of notification are returned to the lender.
Cancelling your loan disbursement
Within 30 calendar days of the refund date or notification date that your refund check is available for pickup, you can request that all or part of your disbursement be cancelled and the loan proceeds returned to the lender. After 30 days, you can return the funds directly. If you return the funds between 30 and 120 days after the disbursement date, the interest and fees are cancelled. Call (800-557-7394) the Direct Loan Common Origination and Disbursement Center for instructions.