If your loan application is approved and you complete MPN, your award will be disbursed on a schoolaccount after subtracting the origination fee
If you wish to cancel or reduce the amount of your loans, you have to communicate your desire with the financial aid office in writing before the anticipated disbursement day
Your financial aid is credited to your student account after the last day of drop/add period. Your aid is first used to cover any charges you owe the school and if there are any funds remaining, it will be released to you by check. This may take up to 14 days after the disbursement date.
If you cease to be enrolled, drop below half-time, or graduate, all loan funds for future disbursements will be canceled.
If you don’t complete the whole 4 step application process on time, it may cause delay disbursement of your aid funds. In this case, the school will charge a late fee on your amount owed regardless of your aid application.