Receiving Financial Aid 
Your college or career school not the U.S. Department of Education will distribute your federal student aid. You ve told your school which financial aid you want to accept. Learn about when and how you will receive the aid. 

When You ll Receive Your Financial Aid 
The type of aid you accepted affects when you ll get your aid. 

Grants and Student Loans 
Generally , your school will give you your grant or loan money in at least two payments called disbursements. In most cases , your school must give you your grant or loan money at least once per term semester, trimester, or quarter. Schools that don t use traditional terms such as semesters or quarters usually must give you your grant or loan money at least twice for instance, at the beginning and midpoint of your academic year or program. Note: If you re a parent taking out a Direct PLUS Loan to help pay for your child s education expenses , your loan funds will be disbursed according to the same type of schedule. The following may apply if you haven t taken out a federal student loan before : If you re a first - year undergraduate student and a first - time borrower , you may have to wait 30 days after the first day of your enrollment period semester, trimester, etc. before your school is allowed to give you your loan money. Check with your school to see whether this rule applies. If you re a first - time borrower of a Direct Subsidized Loan or a Direct Unsubsidized Loan , you must complete entrance counseling before your school can give you your loan money. If you are a graduate or professional student taking out a Direct PLUS Loan for the first time , you must complete entrance counseling before you receive your first loan disbursement. Note: Counseling isn t required if you re a parent taking out a Direct PLUS Loan to help pay for your child s education. 

Work-Study 
If you re going to have a work - study job , you ll be paid at least once a month. If you don t receive the type or am

user: I need your advice. I haven't received any financial aid yet, but I need to pay for textbooks. How am I supposed to do that without any money?

assistant: Are you part of a school that participates in a federal student aid program?

user: No, I'm not.

user: What happens if my school offers me financial aid?

assistant: Well, sometimes money is left over after your aid is applied to your tuition, fees, and other school charges. This remaining amount is called a credit balance.

user: How can I save money when it comes to materials available at my school?

assistant: You may have several lower-cost options to obtain your books at your school.

user: Yes, I'm aware of this.

assistant: Are you eligible for disbursement i.e., the payment of your financial aid 10 days before the term begins?

user: Yes, I am.

assistant: Will you also have a credit balance i.e., money left over after your financial aid is applied to your tuition, fees, and other school charges as applicable?

user: Yes, I will.

assistant: In that case schools that participate in federal student aid programs must provide a way for you to obtain your books and supplies by the seventh day of the term.

user: That's great! What if my course uses a hard-copy textbook though?

assistant: Then you should consider buying a used copy or renting your textbook from a bookstore or online.