Loan Fund Disbursement

You should allow 90 days from the date you submit your loan application until the funding is received. Pending issues will delay the processing time.

Once your loan is certified, the lending bank will forward the funds to University of Phoenix by Electronic Funds Transfer (EFT) or by check.

The campus will confirm your eligibility prior to the anticipated disbursement date.

If the disbursement is greater than the anticipated cost of your tuition for the disbursement period, the excess loan funds will be calculated and forwarded to you within 14 calendar days from the disbursement date. For the first disbursement to a first time, first year undergraduate borrower should allow a 30 days delay in disbursement from the beginning of the program of study.

Loan Disbursement Policies:

• Funds are held on account to pay for courses attended in the loan period, and are applied first to current outstanding balances
• Funds are disbursed twice in an academic year
• Credit balance is released to the student, if applicable

You will need to re-apply for Stafford loans each academic year. A new application is due 90 days prior to the end of the current academic year.