Federal Loan Disbursement Information
Federal Direct Loan (Subsidized & Unsubsidized) and Federal Parent Loan for Undergraduate pupils (PLUS)
If you’ve been granted that loan, your loan quantity is suggested in JetStream under “Financial Aid” and then “Review and accept your Financial Aid Award Package”. The U.S. Department of Education will subtract a 1.059 per cent (percent) origination cost from your approved loan amount. PLUS loans has an overall total of 4.236 % (%) deducted. The U.S. Department of Education will be sending you information that is additional.
The times allow me to share calculated disbursement dates when it comes to standard 15 week courses. The date that is actual of loan funds will be different based upon your enrollment in late begin classes. You will have a later disbursement date if you accept your loan after the semester began. As suggested below, loans being for autumn semester only, wintertime semester just or spring semester just could have two disbursement times.
| Semester | Earliest Date Loan Funds Applied to your JC Account | 2nd Date Loan Funds Applied to your JC Account (for a one semester loan) |
|---|---|---|
| Fall 2019 | 10/03/19 | 10/28/19 |
| Winter 2020 | 02/12/20 | 03/11/20 |
| Spring 2020 | 06/17/20 | 06/29/20 |
You shall be notified by the JC school funding workplace whenever your loan funds have already been put on your JC account. The JC Business Office will mail a check to your address on file, or on-campus mailbox if you are due a refund. Instead, you may subscribe to direct deposit though your JetStream account under “Banking Information.” The JC office environment generally processes refunds the week after the date your loan funds are put on your pupil account. Please contact the cashier’s office at 517.796.8420, choice 1, for more information regarding refund time lines and deposits that are direct. After the semester starts, you will find more information regarding refund time lines for the www.speedyloan.net/reviews/netcredit semester that is current.
You should be enrolled in at the least six (6) credit hours to get any loan funds. Read More