Federal loan disbursements follow specific guidelines, and refunds are issued based on credit balances after tuition and fees are covered. Here’s how it works:
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Federal Loans Disbursement: Loan funds are generally released once enrollment is confirmed, with the refund process beginning around the fourth week of each semester.
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Refund Eligibility: Refunds are only issued if a student has a refundable credit balance after tuition and fees are paid.
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Restrictions: Institutional funds, donor contributions, and need-based scholarships cannot be considered when issuing refunds.
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Timing: Refunds are processed within 14 business days after funds are applied to a student’s account.