Disbursement ScheduleFor Stafford Loans and Plus Loans
| LOAN PERIOD | 1ST HALF DISBURSEMENT | 2ND HALF DISBURSEMENT |
| FALL 08 & SPRING 09 |
STEP 1. Allow us 15 - 30 business days from the day you attended your loan session to certify a Stafford Loan online at TG Loans By Web (https://lbw.tgslc.org). Make sure you send a MASTER PROMISSORY NOTE to your lender if this is your first time borrowing through Richland College or first time borrowing through that lender. |
All Second Disbursements must be no earlier than the mid-point of the award period.
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| SPRING 09 ONLY | All Second Disbursements must be no earlier than the mid-point of the award period Students in FAST TRACK – |
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| SUMMER I | NO LOANS To be awarded grants for Summer 1, fill out the SUMMER SUPPLEMENT FORM in March/April. |
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- Please refer to the RLC Stafford Loan Application Booklet provided during the loan session or contact your lender/servicer directly for the actual disbursement dates of your loans.
- Stafford Loans have to be disbursed in two equal disbursements.
- The second disbursement cannot be before the half point of the loan period.
- First time Stafford Loan borrowers have to wait 30 days before their first disbursement from the start date of the semester.
- Pay close attention to the loan period when accepting your loan/s on Loans By Web to know which semester you are borrowing and when your funds can be disbursed.
- In both Stafford Loans and PLUS loans, borrowers will have to pay a fee of up to 4% of the loan, deducted proportionately from each loan disbursement. Because of this deduction, you will receive slightly less than the amount you are borrowing.
Stafford Loan Disbursements
Please allow 5 to 10 business days, from the date the Financial Aid Office receives your loan funds from your lender, for your loan funds to be deposited in your Chase E-funds card or direct deposited in your checking/savings.
- All students awarded financial aid must ACTIVATE their financial aid awards per academic year. This is a one-time requirement for the academic year. Go to eConnect, Credit Student Menu, FA Award Letter. FA funds will not be released until this step has been completed.
- All financial aid funds will be issued through electronic fund transfer to the student's bank account or to their Chase E-funds Card . To set up your direct deposit account, go to the Credit Student Menu of eConnect , you can apply for a Chase E-funds Card or opt for direct deposit on your personal checking or savings account on Send My Money.
PLUS Loan funds will come in the form of paper checks from the lender/servicer payable to the parent borrower and Richland College. The Financial Aid Office will send the parent borrower an email notice as soon as the checks are ready for pick-up.
The parent borrower has to come to Richland College with a photo ID to pick up their PLUS Loan check. The check has to be endorsed by the Richland College Business Services Office, which can be done on Mondays through Fridays, 8:30 am to 5:00 pm. (The Business Office/ Cashiers Window is open Monday - Thursday 8:30 am to 7:00 pm and on Fridays 8:30 am to 5:00 pm)