How long will it take to process a student loan?

How long does it take to process a student loan?

• I was offered a loan on my financial aid package, i did master promisory and entrance counseling on the 16th , when can i expect it to be processed?

• Answer:

  It depends on the school. Once your MPN and entrance counseling are completed, your school has the ability to disburse the loan, but that doesn't mean that they will. A school can disburse up to 10 days before the start of classes, but most wait until after classes start, often just after the add/drop period. If this is your first student loan, your school may have to wait 30 days after the start of classes before they can disburse it. In most cases, a school will disburse all of the loans for a particular semester or class start at once. So, even though your loans may be processed and ready to go, it may be some time before the school actually disburses them. For example, for students starting classes in September, most loans will be disbursed around the end of the month, or even into October.