Federal Loan Disbursement Information

Federal Loan Disbursement Information

Albany State University participates into the Federal Direct Loan Program, including the Federal Direct Subsidized Loans, Unsubsidized Loans, Grad PLUS Loans, and Parent PLUS Loans. Pupils must finish the complimentary Application for Federal Student help (FAFSA) to qualify for federal loans.

PROCESSING TIMELINE:

Direct Subsidized and Unsubsidized Loans:Once a pupil accepts loans that are his/her Banner online, normally it takes between 5-7 company days for processing. This processing time permits the educational college to submit the student’s approval of loans into the Department of Education for certification. Students must additionally complete Loan Entrance Counseling and a Master Promissory Note (MPN) before any loan funds can be authorized or compensated to a student’s account.

The business that is 5-7 processing schedule will not reflect real disbursement dates/timelines. Loans are disbursed prior to federal disbursement guidelines while the school’s disbursement schedule for every single term.

Grad PLUS Loans & Parent PLUS Loans:Once a student/parent applies for an advantage loan at www.studentloans.gov, normally it takes between 5-7 company days when it comes to information become gotten because of the college and action taken fully to adjust a student’s school funding package/awards. A student/parent must complete a Loan also Agreement for the PLUS Loan (MPN) before any loan funds is authorized or compensated up to a student’s account. Continue reading “Federal Loan Disbursement Information”