What is a loan period and how does it affect my loan?
The loan period of a student loan is the period of enrollment for which loan proceeds are borrowed. Typically, a student is awarded loan proceeds based on his/her attendance for the length of the standard academic year (At Southern Miss, loans are awarded in full for the fall and spring semesters). Utilizing your full federal loan eligibility for the fall and spring semesters will eliminate student loan eligibility for the following summer session.
The loan period of a student loan is the “period of enrollment for which loan proceeds are borrowed.” Typically, a student is awarded loan proceeds based on his/her attendance for the length of the borrow-based award year (two consecutive semesters). Single Term Disbursements: • Any student who registers for a third term in the same academic year will receive loan disbursements in two equal installments within the single term. • Any student who registers for their final term prior to graduation at the beginning of the new academic year will receive loan disbursements in two equal installments within the single term.
