Fall 2006 Disbursement Schedule
Disbursement: August 18, 2006
Disbursement: August 28, 2006
Disbursement: August 24, 2006
Fall Loan Disbursement Process: Step-by-Step
All loan funds, federal, Graduate PLUS and
private, are sent directly to the school according to the
disbursement schedule listed below.
1. When we receive the funds, we must verify
that you are eligible to receive the funds. This process
takes 1-3 business days. When the funds are released
2. The funds are then credited to your tuition
account. You will receive an email from the Bursar's Office
informing you that billing activity has occurred.
3. If a credit balance exists after the funds
have been credited, the Bursar's Office generates a refund
check for you. This process takes 5-7 business days.
4. The Bursar's Office will then notify you
when the check is ready to be picked up.
If you have any questions regarding the financial
aid funds that have been credited to your account, please
contact the Office of Financial Aid.
If you have any questions regarding the status
of your refund check or charges on your account, please
contact the Bursar's Office at 312-906-5160.
Refund checks are generated by the Bursar's Office and
are available to be picked up at their office (Room 290)
approximately 5-7 business days after a credit has resulted
in a student's account.
The Bursar's Office will send the student an email when
a refund check is available.
Perkins Loan Promissory Note News
The Office of Academic Administration and
Student Affairs will distribute Perkins Loan Promissory
Packets. The Perkins Loan packets will be distributed by
this office on the same distribution schedule as the Upasses
and New ID's for continuning students.
Distrbution Schedlue is a s follows:
*Wednesday, August 23, 11:00am - 1:00pm, Front Lobby.
*Friday, August 25, 11:00am - 1:00pm, Front Lobby.
*Monday, August 28, 11:00am - 2:00pm, Front Lobby.
If you are receiving a Perkins loan for the
coming academic year, you must pick up a packet containing
the promissory note for your loan. The packet contains forms
you must sign and return. If you are unable to pick your
packet up during the distribution times listed, you should
pick your packet up in the Financial Aid Office after August
Instructions on how to complete the forms
and a return will be included in the packet. Using the return
envelope please send the completed promissory noted to the
Student Loan Office on Main Campus via interoffice Mail.
The interoffice mail slot is located on the second floor
behind the Chase ATM machine.
The Perkins is administered by the Student
Loan Office on Main Campus.
New Stafford Loan Rates
The new Federal Stafford Loan rate for funds
disbusered after July 1 2006 is as follows:
6.80% during in-school, grace, deferment,
forbearance, or repayment
In order to qualify for federal financial
aid for 2006-2007, you must complete a Free Application
for Federal Student Aid (FAFSA) or Renewal FAFSA for 2006-2007.
In order to complete the 2006-2007 FAFSA you will need to
provide 2005 income and tax information, so we recommend
that you complete your 2005 tax returns before filing your
FAFSA. However, we also recommend that you complete your
FAFSA as soon as possible to receive full consideration
for financial aid.
You can complete your FAFSA or Renewal FAFSA
online at www.fafsa.ed.gov
Applying for Private Loans
If you decide to apply for the private loan instead of
the Graduate PLUS Loan, You must do the following:
- Notify the Office of Financial Aid via email at firstname.lastname@example.org
- Apply with your lender. Once your private loan is approved
and completed with your lender, the Office of Financial
Aid will be notified electronically to complete the school
If you choose to use a private loan instead of the Graduate
Plus Loan and do not notify our office of your decision,
we will not certify the private loan.
Whether you are applying for a private loan for the first
time this academic year or you are looking to borrow additional
funds, please keep the following in mind:
Free Credit Report
Did you know that you are now able to receive a free
credit report once every 12 months? We encourage students
to review their credit reports annually to check for
inaccuracies and identify any suspicious activity.
To receive your free credit report, please
visit the following link: www.annualcreditreport.com.
This central site allows you to request a free credit
file disclosure, commonly called a credit report, once
every 12 months from each of the nationwide consumer credit
reporting companies: Equifax, Experian and TransUnion.
Please be aware that other sites may advertise
free credit reports, but this is the only site that is
sponsored by the federal government and the three nationwide
credit reporting agencies. Other sites may charge fees.
Office Hours - Suite
Monday-Thursday ~ 8:30 a.m. to 6:00 p.m.
Friday ~ 8:30 a.m. to 4:30 p.m
Phone: (312) 906-5180 -
Fax: (312) 906-5274