Disbursement of Loan Funds
All students must accept their loan on UTB Online, complete entrance counseling (either online or in-person) and have a completed Master Promissory Note on file with Direct Loans. Loan funds will be posted to the student’s UTB account ten days before classes begin. Students may charge their tuition and fee costs against their loan amounts. Any remaining balance (after tuition and fees have been paid) will be issued to the student. Students can receive their balance through direct deposit or through a manual check sent by Accounting and Finance. Students normally receive these funds on the first class day of the semester.
If a student applies for a loan after school has already begun, loan funds will be posted to the student’s account within ten business days of completing the three steps above. A refund will then be issued to the student by Accounting and Finance.
First-year, first-time undergraduate student/loan borrowers will receive their first loan disbursement no earlier than 30 days after the start of the semester.