For example, a school's academic year may consist of a fall and spring semester, during which a student must complete 24 semester hours. Academic years vary from school to school, and even from educational program to educational program at the same school. Loan fees are subtracted from each disbursement. Disclosure Statement gives students specific information about the loan types, amounts, and anticipated disbursement dates.
Disbursement dates are always earlier than release date .
The release date is day on which funds are made available to student accounts. A state or private nonprofit organization that has an agreement with the U.S. Secretary of Education to administer a loan guarantee program under the Higher Education Act. The Master Promissory Note's key feature that allows students to borrow multiple Subsidized or Unsubsidized Stafford loans based on one note. The multi-year feature eliminates the need for students to sign a promissory note each time they borrow under the Federal Stafford loan program. Since the MPN is valid for 10 years from the signature date, it is likely that one MPN will accommodate an academic career for most students.