Federal Stafford Student Loans (Subsidized and Unsubsidized) and Graduate Plus Loans
The School of Law students participate in Electronic Funds Transfer (EFT) with a number of lenders. Students who borrow from the Federal Stafford Programs and Graduate Plus Loans through most lenders will have the loan funds automatically deposited in their student accounts. Students who borrow from some lenders may receive their student loan monies by paper checks. Student loan checks are received by the Financial Aid Office which must review the student’s enrollment/eligibility status and process the checks before they are sent to the Student Accounts Office for disbursement. Most checks issued under these programs are made co-payable to the student and USD. Regulations require that the disbursements correspond to the start of each academic semester. All loan programs’ proceeds are divided in two equal disbursements. Student loan funds are applied to the student account no sooner than ten days before classes begin. Students may access their refunds no sooner than ten days before classes begin. Students are responsible for payment of tuition and fees due at the time the loan check is endorsed or EFT funds applied to their student account. Students who have received student loans by paper checks or EFT and subsequently drop units, may have a portion of their loan proceeds returned to the lender. Students who pay a portion of their tuition by credit cards, and subsequently receive financial aid disbursement applied to their student account may have a portion of their tuition charges credited back on their card.
