Note: Federal Direct and Federal PLUS Loans can be disbursed only when the student has actually begun attendance in a total of six credits. It is the attendance in the 6th credit of class that constitutes eligibility for federal financial aid. In the case of 8 week Sessions, this may result in later disbursement. Please see the following examples below:
Example 1: If a student enrolls for 3 credits in the Fall semester 8 week Session 1, beginning in August, but does not begin enrollment in an additional 3 credits (constituting half-time enrollment) until the 8 week Session 2, beginning in October, the Federal Direct or Federal PLUS loans disbursement will not occur until approximately 10 days prior to the start of their second 8 week class. Refunds will be issued to students by the Student Accounts Office shortly after disbursement.
Example 2: If a student enrolls in a 3 credit course during Summer pre-session, but does not begin enrollment in the second 3 credit course until Session 1 (or Session 2), the Federal Direct or Federal PLUS loans disbursement will not occur until approximately 5 days prior to the start of their Session 1 class (or Session 2). Refunds will be issued to students by the Student Accounts Office shortly after disbursement.
Therefore, students who will not begin attendance in a total of six credits until later in the semester will need to plan accordingly for the purchase of any books or materials for their classes. Also, please note that if a student adjusts their schedule (drops the class) after a loan disbursement has been made which now makes the student less than half-time, the loan will need to be cancelled and will result in a balance due to SRU.
There are separate guidelines for disbursement of aid for other programs, please visit www.sru.edu/finaid for additional information.