Federal Loan Disbursement Information

Federal Direct Loan (Subsidized & Unsubsidized) and Federal Parent Loan for Undergraduate Students (PLUS)

For those who have been granted a loan, your loan amount is indicated in JetStream under “Financial Aid” and then “Review and accept your school funding Award Package”. 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 % (percent) deducted. The U.S. Department of Education will be sending you information that is additional.

The times allow me to share projected disbursement dates when it comes to standard 15 week courses. The date that cashcentral is actual of loan funds will change dependant on your enrollment in belated start classes. If you accept your loan following the semester started, you should have a subsequent disbursement date. As suggested below, loans which are for autumn semester just, cold weather semester just or spring semester only may have two disbursement times.

You will be notified by the JC school funding workplace whenever your loan funds are put on your JC account. The JC Business Office will mail a check to your address on file, or on-campus mailbox if you are due a refund. Instead, you might subscribe to direct deposit though your JetStream account under “Banking Information.” The JC office environment generally processes refunds the week following a date your loan funds are placed on your pupil account. Please contact the cashier’s workplace at 517.796.8420, choice 1, for further information regarding refund time lines and direct deposits. Following the semester begins, there is further information regarding refund time lines when it comes to current semester.

You really must be signed up for at the least six (6) credit hours to get any loan funds. If you fall below 6 credit hours, are suspended from educational funding or reach finally your borrowing limit, your own future loan disbursements will likely to be terminated. Your loan eligibility can also be reduced in the event that you get any extra school funding and/or other academic resources.

Arrangements would be designed to permit you to create classes pending disbursement of the loan funds. If funds is going to be staying after your tuition and cost fees, you will end up given credit to buy your publications in the JC Bookstore more or less one month prior to the beginning of classes.