Federal Loan Disbursement Information
Federal Direct Loan (Subsidized & Unsubsidized) and Federal Parent Loan for Undergraduate pupils (PLUS)
Then“Review and accept your Financial Aid Award Package” if you have been awarded a loan, your loan amount is indicated in JetStream under “Financial Aid” and. The U.S. Department of Education will subtract a 1.059 per cent (per cent) origination charge from your approved loan amount. PLUS loans could have an overall total of 4.236 % (per cent) check smart deducted. The U.S. Department of Education will send you information that is additional.
The times listed here are predicted disbursement dates when it comes to standard 15 week courses. The real date of the loan funds will change dependant on your enrollment in belated begin classes. In the event that you accept your loan following the semester started, you’ll have a subsequent disbursement date. As suggested below, loans which can be for autumn semester just, cold weather semester just or spring semester just may have two disbursement times.
|Semester||Earliest Date Loan Funds used to your JC Account||2nd Date Loan Funds Applied to your Account that is JC a one semester loan)|
You will be notified because of the JC school funding workplace as soon as your loan funds have already been placed on your JC account. If you should be due a refund, the JC Business Office will mail a check to your address on file, or on-campus mailbox. Instead, you might join 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 placed on your student account. Please contact the cashier’s workplace at 517.796.8420, choice 1, for more information regarding refund time lines and deposits that are direct. Following the semester starts, you will find more information regarding refund time lines for the semester that is current.
You need to be enrolled in no less than six (6) credit hours to get any loan funds. In the event that you fall below 6 credit hours, are suspended from educational funding or achieve your borrowing limit, your own future loan disbursements are going to be terminated. Your loan eligibility can also be paid off in the event that you get any extra school funding and/or other educational resources.
Arrangements is going to be built to allow you to sign up for classes pending disbursement of the loan funds. If funds will soon be remaining after your tuition and cost fees, you will end up provided credit to buy your publications during the JC Bookstore more or less one month ahead of the begin of classes.