My Sallie Mae Loan is approved. What happens now?

Once your loan is fully approved, the financial aid office will certify it to be disbursed. Loans are disbursed to the school on a semester-by-semester basis. Disbursements are generally scheduled 10 days prior to the start of the term, whenever possible. However, Sallie Mae policies may affect disbursement dates. 

Disbursements are received by the Office of the Bursar and applied to your student billing account like a payment. If you have borrowed more than your balance due, the payment will generate a negative balance and you are due “change”. This change will be delivered to you at or after registration in the form of a refund check. Please note that it can take up to two weeks from the disbursement date for refund checks to be processed, mailed, and delivered to you. If you have a question regarding your refund check, you will need to contact the Office of the Bursar.