That means that you have many choices of lenders for a Federal Stafford Loan. You should compare the rates and fees of several lenders before making your selection. All loans are disbursed at the beginning of each quarter. Federal Stafford and Perkins loans must be disbursed in 3 equal disbursements. Your loan will be applied to your tuition account and any excess funds will be refunded to you in the form of a check.
Most refunds are available during the first weeks of the quarter.
For more detailed information about disbursement of student loans, refer to How to Get the Loan Funds You've Been Awarded . At an Entrance Interview, students learn all of the rights and obligations associated with each federal loan program. Federal Regulations require that all students complete an Entrance Interview prior to the disbursement of their funds. You are only required to attend an interview the first time you borrow from the Federal Stafford or Perkins loan program. I received my award letter and now think I borrowed too much.