Loan Disbursement for Federal Loans

Loan disbursment for Federal Loans

  • Western Union will disburse funds for Federal Loans to students on our behalf.
  • Loans will be disbursed in October and January for Undergraduate and in October, January and April for Postgraduate students.
  • You must be in attendance on your course for 28 days prior to your first disbursement being released
  • In January (and April for Postgraduates) the funds will be requested when we have received confirmation of your Satisfactory Academic Progress.
  • Your tuition fees will be payable in 2 payments (3 for Postgraduates) to coincide with your disbursements. On your student records the amount due from your loans to pay your fees will be shown as "Pending Financial Aid"*
  • The funds come in dollars direct to the University.
  • We will convert the amount received at that day’s exchange rate
  • We will deduct your tuition fees from your disbursements and pay any remaining funds into your UK bank account.**
  • January start postgraduate students will receive 2 disbursements  Feb & May and the total amount of tuition will be taken from those disbursements 

 

*If your loans are insufficient to meet your tuition fees, you will need to arrange to make up the shortfall by paying this immediately or by instalments as defined in the Fees and Refund policy. Further information on making payments: www.gcu.ac.uk/money/fees.