Why can I receive my entire loan amount at the beginning of my studies and when will I receive my loan cheque(s)?
Following several cases of fraud in the US, the Department of Education decided to make multiple payments or ‘disbursements’ common practice for all federal loans. This means that you can only receive loan disbursements in equal amounts at the beginning of each academic term. The terms at Oxford are Michaelmas (September-December), Hilary (January-March) and Trinity (March-June). You will receive payments at the beginning of each of these terms and once at the beginning of the summer vacation, if you are on a continuous or 12-month course. As a general rule, if you have applied for your loan in good time, your first loan cheques will be ready for you when you arrive at Oxford in September.
Related Questions
- I don need the entire Federal Direct Stafford (or Direct PLUS) Loan amount thats been approved. How can I reduce the loan amount?
- Why can I receive my entire loan amount at the beginning of my studies and when will I receive my loan cheque(s)?
- Why not spread the story across the entire game, instead of putting it all toward the beginning?
