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For each semester, the disbursement of any loan requires you to:

• Be enrolled at least half-time (6 credits for undergrads and 5 credits for grads)
• Have your financial aid file complete
• Have your loans accepted
• Have completed master promissory notes and loan entrance counseling (our office must receive notification of completion).

Two Disbursements Will Occur

If your loan period is for both the fall and spring semester, the first half of your funds will disburse in the fall semester. The second half will disburse in the spring semester.

If you are a fall/spring student and you apply for a fall only loan, funds will be disbursed as a fall/spring loan (half in the fall and half in the spring). Students attending one term only are the only students eligible to apply for a single term loan.

Graduating Seniors

If you are a graduating senior and only attending one semester, your Federal Direct Stafford Loans must be prorated based on the number of credit hours for which you are enrolled. This means that you may not be eligible to receive your maximum annual loan limit. The chart below is an estimate displaying typical loan proration.