School tuition and fees must first be deducted from the Direct Loan funds per Federal Regulations. Any balances remaining after school tuition and fees are paid are referred to as residual balances. Checks will be issued to students for any residual balances and disbursed according to the dates listed below. All first time borrowers in the William D. Ford Federal Direct Loan Program who have not previously attended pre-loan counseling at Southern Poly must attend loan counseling before loan funds may be transferred to the student s account. Students who are being reviewed for SAP may experience a delay in the delivery of residual checks due to the timing of the issuance of grades.
Students are responsible for maintaining eligibility.
All residual checks will be available at the Cashier s Window for students who met eligibility. Unclaimed residual checks will be mailed to the student s address on record. The disbursement process may change without advance notice.