Per the Department of Education, financial aid monies are distributed into two separate disbursements.
For first time borrowers, the disbursement is distributed 30 calendar days after the first day of class and the second disbursement is distributed after the student has successfully completed half of the program.
Students who have previously received financial aid will have the first disbursement of financial aid monies on the start of class and the second disbursement will be made after the student has successfully completed half of the program.
Federal loan monies are disbursed to the school via EFT and then distributed to the students account by the business office. Any excess proceeds from disbursements will be made to student in the form of a check within 3 business days. If disbursement day lands on a Federal Holiday excess proceeds will be disbursed within 3 days after the Federal Holiday.