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Research lenders to identify a lender that offers you acceptable interest rates, fees, and disbursement and repayment options. For example, some lenders require immediate repayment, which can affect future disbursements. Not immediately making monthly payments for a fall semester portion of a loan can jeopardize your spring disbursement of that loan.

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• Calculate your cost of attendance.
• Calculate your tuition cost.
• Your estimated financial assistance is available on your personal ULink account.

Complete your application, submit outstanding paperwork to the lender, authorize a credit check and, if approved, sign a promissory note.

• Carefully consider the loan period. You should select a period that corresponds to our academic year. We advise you to apply for the loan for the full academic year, rather than apply for a loan for the fall and reapply for a loan for the spring. If the spring portion is not needed, you can cancel or return it. 
• The loan amount you are certified for will be divided equally among the terms for which your private loan was applied for and approved.
• Maximum eligibility is your Cost of Attendance, which includes tuition, fees, and living expenses, minus other financial aid you are receiving.
• The University will only deduct private loans from your bill when they are “approved,” meaning that the credit is acceptable or “ready for school certification,” promissory note has been signed, and any documentation required by the lender and University has been submitted. The lender will notify us when the loan is approved.

Once your loan has been approved, we will receive notice from the lender that our certification is requested. Since these loans are designed by the lenders for educational purposes, they require certification of your post-secondary education progress. Usually, they require that we certify your class level, enrollment, and anticipated graduation date. Therefore, you must be enrolled to receive these funds.

If you are not enrolled when loan funds arrive, they will be returned to your lender.

Please note: If a schedule adjustment occurs during the add/drop period (1st week of class) that results in you dropping all your classes and no longer being enrolled at the university, your loan funds will be returned to your lender.  If you have received a refund and are no longer enrolled, the refund must be returned to the Student Cashiers Office.  Failure to return these funds to the Student Cashier’s Office will result in a debt to the university in the amount of the refund. 

Loans will be disbursed according to the disclosure statement from the lender. We encourage you to ask your lender about having your loan disbursed via Electronic Funds Transfer (EFT) since this expedites the payment process. Most disbursement dates are timed to reflect the start dates of each semester.

If you are not enrolled when loan funds arrive, they will be returned to your lender.

Please note:  if a schedule adjustment occurs during the add/drop period (1st week of class) that results in you dropping all your classes and no longer being enrolled at the university, your loan funds will be returned to your lender.  If you have received a refund and you are no longer enrolled, the refund must be returned to the Student Cashiers Office.  Failure to return these funds to the Student Cashier’s office will result in a debt to the university in the amount of the refund. 

If you choose a lender that does not disburse funds via EFT, then a paper check will be issued to UL ��˾�������� and you. The paper check may require endorsement from you, the borrower, before funds will be credited to your account. The Office of Student Financial Aid will notify you to endorse a paper check.