Disbursement

Question: What is the disbursement amount on a college loan? If for example I have a Stafford Subsidized loan for 5,500 and my disbursement amount is for 2,700, what do I actually owe when I have to pay the loan? What is the disbursement amount? If that is what I owe, who pays the other 2,800? Thank you!

Answer: If your loan is 5,500 you will owe 5,500. The disbursement amount is how much they give you after your tuition and fees have been paid, usually in the form of a refund check or direct deposit.

Question: How long will it take to receive a Stafford loan disbursement? I'm attending an accredited flight school starting November 5th, 2007 and plan to graduate end of March/beginning of April of '08. I have already secured my financing through private loans (Sallie Mae / Wachovia). I know it's too late to apply for federal aid this year. If I fill out the FAFSA on the 1st of the year, how long will it take to receive a Stafford loan disbursement? I believe my school will request the final disbursement from Sallie Mae sometime in Feb. I'd rather get the money from the Stafford loan as the interest rate is about half of what I'm paying for the private loan. The school is ATP (Airline Transport Professionals) located in Ponte Vedra Beach, FL. I'm attending the Jacksonville location. I could not find their school code on the FAFSA website. I know they are nationally accredited. Does this mean stafford loans aren't available?

Answer: Did the school tell you its too late for you to apply for federal financial aid for this year or did you make this assumption? Because the CURRENT fafsa application is for an academic year, not a Jan-Dec year. Here is the description for when the current fafsa is good for. The 2007-2008 School Year (July 1st, 2007 - June 30th, 2008): ---this is directly off the application--I'm attaching the link below. The next FAFSA that will be available (the one you are inquiring about to apply) in Jan would be good for the following academic year (July 1st, 2008- June 30th, 2009) and it sounds like you would be graduated by then!!! At work, I am helping people NOW apply for financial aid/Stafford loans at who are starting in school this January. It is not too late for them... I don't know why you think it would be too late for you? Don't take out private loans... fill out the fafsa, like tonight, and talk to your schools financial aid office- quick. Email me if you need more help. Be sure to include the schools website-sometimes those proprietary schools have weird academic calendars and deadlines. Edit - more info Hi Greg, I looked at your school. It's not recognized by the Dept of Education to receive federal student aid so you can't get a Stafford loan to go to this school. Are you borrowing 55,000 to go there? Well, it's your business dude, but I would go to a school that you can get decent fin aid to go. One that would get you the pilots license and even a degree as well. Surely there is something close to you, but here are a couple of examples of real schools that will let you borrow on federal student loans. http://www.sosu.edu/academics/degrees/professional-pilot/ Aviation – Professional Pilot Bachelor of Science Major–Minor http://www.sosu.edu/future-students/expected-cost/durant/ Cost of that school here. http://www.tulsacc.edu/archive/cat07/81-142.pdf#page=10 AVIATION SCIENCES TECHNOLOGY - Professional Pilot Option http://www.tulsacc.edu/page.asp?durki=3584 Cost of that school here.

Question: How long does it take to get 401K disbursement for under 59 1/2 year old, hardship withdrawal once filed? My husband has been out of work and we have separate 401k plans but need to take a lump sum from his plan to help with the bills or we won't have a place to live. 1. How long does this process take? 2. We want to opt for the 10% and 20% tax and penalty to be taken out before the disbursement. Will we be taxed or penalized again on it when we file our taxes?

Answer: Ask the trustee of the 401K plan how long it will take - each one is different. They should be able to give you a good idea on when you'll get the check. The amount taken out for tax is just withholding, like the amount taken out of your regular paychecks. If you have the 20% plus the 10% penalty taken out, and your tax bracket is less than 20%, you could end up getting some of it refunded to you since you'd owe less than what was withheld. If your tax bracket was more than 20%, then you could owe more Good luck.

Question: How are these people getting such big disbursement checks? The colleges that I keep applying for keep saying I'll even out the first quarter so I really won't be getting a check, if anything I'll be paying. What's up with that? Do the people who get the disbursement checks get scholarship money or something? (doing online but others attending online get a disbursement check also) Oh,geez that's no good. That isn't a check at. Taking money that you'll have to pay back so there really is no point in taking the money and blowing it on stupid things.

Answer: It all comes down to what kind and sort of aid each person qualifies for - but as a general rule the ones that get larger disbursements are taking out loans which they'll have to pay back one day. But people taking classes at FAKE, online, colleges are paying higher tuition rates - so that might have something to do with it. Seems pretty wastefull to pay for a degree you won't be able to get a job with later.

Question: University of Phoenixes disbursement checks are drawn off what bank? I am waiting for my first disbursement check from the University of Phoenix. I don't have a bank account, and the amount is fairly large. I just wondered what bank THEY use, and maybe I can cash it there. Thanks!

Answer: The money for financial aid does not come from the school, federal and state aid comes from the government, and loans come from lenders. The University of Phoenix is a national franchised for-profit company, they will not have a local bank. You are in college now, it is time to get a bank account, I had to do that in high school when I started working at Target. National franchised just don't operate out of banks. That is going to be a good option, you can do checking or savings and start working up some savings for something like an emergency fund.

Question: When will I receive my financial aid refund disbursement from my college? The financial aid office received my financial aid disbursement nine days ago, and according to my student service page it shows that after paying the tuition I have extra funds of $2,600. Does anyone know how long it will take before this money is sent to me?

Answer: universities.atwebpages.com - it has detailed info how to apply for financial aid and scholarships to get more cash.

Question: Will I receive my financial aid on the disbursement date that is provided? Hi, I check my student account on the school website. And it said that the disbursement date is friday the 13th of august. I was wondering if that is when i get my finicial aid or not? This is for California State University, of Fresno.

Answer: That is when the financial aid gets sent to your school. Most schools do that electronically, but not all. Even if your school does get your financial aid that day, you probably would not see any extra in the form of a refund for a week. Remember, you're not the only college student. They have thousands upon thousands of financial aid packages to process.

Question: When will I receive my University of Phoenix disbursement? University of Phoenix students! When did you receive your pell grant disbursement via direct deposit? How far after school started? I went and enrolled and filled out all neccassary papers last week and my start date is April 26th. I am wondering around when I will receive the disbursement. I set up to receive it via direct deposit so it would be faster. Please help!

Answer: After successful completion of the first class.

Question: Is it possible to have my loan money disbursed 3 weeks earlier than the actually disbursement date? I need to pay my quarterly university fees and I am short unless the loan money comes in early (payment date is 3 weeks before disbursement date). The lender is Citibank btw.

Answer: probly. if you have good credit, and if you tell them whats going on.

Question: How do I record the journal entry for a Special Disbursement from an equity fund? This is from equity stock we own as an investments. The special disbursement is one made at the end of the year. How do I know if it is a return on the investment or simply income?

Answer: If you're in the US, your 1099 will tell you the character(s) of the distribution--ordinary dividend, qualifying dividend, capital gain and/or return of capital.

Question: Is there a school loan for the MBA, that does not accrue interest as soon as disbursement is received? Repayment of PLUS loans starts sixty days after the final loan disbursement; however, interest accrues as soon as you receive the first disbursement. Is there a loan which would not accrue interest until after graduation? Or what is the chepaest source of school funding?

Answer: Perkins loans and Subsidized Stafford loans are great because the government pays the interest on them while you are in school. Exactly what you are looking for!! However, not everyone qualifies for these forms of loans, your school offers them to you if you are, but won't if your EFC is too high. The cheapest source of school funding is scholarships and grants. FREE money.

Question: Will I still receive my final financial aid disbursement next month? I posted this in another forum I had been approved for financial aid back in November. I received the first disbursement in December. As far as I know through the Wells Fargo website, my financial aid is approved for disbursement next month. I haven't done well and have like 5 weeks left. Would I still get the funds or would I not get them?

Answer: How are WE supposed to know that??? Why don't YOU ask the financial aid department. You are in college...use common sense!!

Question: How long after disbursement date do you receive funds? I was just told when my disbursement date was, do anyone know how long after my disbursement date I should be receiving the excess funds that are old to me? I attend University of Phoenix

Answer: well i just recently attended UOP . EXAMPLE say for instance if your funds were disbursed today i will say you will get your check about TUESDAY or WEDNESDAY of next week

Question: My financial aid got done processing Friday. How long after till i get my financial aid disbursement check? So My financial aid just got approved or Done processing, now how long till i get my first disbursement check?

Answer: you need to check with the financial aid office. different schools do it differently. im sure you can find it on you school website. just go to the website and type in refund check or excessive funds. and it should tell you. but usually they send out a check, or direct deposit either the week before class, or just after.

Question: Pay for classes with financial aid before disbursement? I have a disbursement date set for my financial aid, but it is one week before payment is due on my next semester of classes. I know I need to ask my school next week about this, but has anyone heard of being able to pay for your classes with the financial aid before the disbursement date?

Answer: You should be able to get a voucher from financial aid to give as payment. After all isn't that what the money is for?

Question: From the date of disbursement how long would it take to recieve a refund? Being a freshman my first disbursement is 10/28 and i want find out how long will it take before the reamining balanced is sent to me?

Answer: It depends upon the method of sending the disbursement./ Electronic transfers and direct deposits may be very quick. Mail can be slow particularly if the distance is great or the disbursement occurs on a Friday or a holiday in which the post office is closed.

Question: Is the penalty I paid for early disbursement of my 401K tax deductible? Is the penalty that I paid to the IRS for early disbursement of my 401k last year tax deductible this year?

Answer: I am sorry to say it is not. The penalty is an additional tax when you file the income tax return for the year of the distribution. This is the only impact on any income tax return for the 10% penalty. Laura H – H&R Block – Senior Tax Advisor 5 **This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.

Question: Can my financial lender fill out my disbursement letter for another college? For instance; I went to school A, and now want to go to school B. School B is stating they need school A to fill out the disbursement form for my funds or call my financial aid lender. However, School A does not want to (for whatever reason) cooperate. I can not call the lender since they are closed on Saturdays...anyone know anything about this kind of stuff?

Answer: Corina: I'm going to guess that you went to School A during the fall semester, and that you'll be transferring to School B for the spring. Is that correct? Before School B can disburse your aid for the spring semester, they need to verify and confirm what aid (including your loans) was disbursed to you for the fall. Again, I'm guessing that since School B directed you to your lender that we're talking about a loan here (and nothing else). Your lender knows exactly what money was disbursed to you in the fall, and as a consequence, what money remains to be disbursed in the spring. They can certainly provide this information to your new school. Keep in mind that this answer is based only on the facts as you have presented them. If the situation is different, the answer may be quite a bit different, too. One of the similar questions that we often get around here is "How do I get a hold on my transcript removed if I'm leaving School A under less-than-favorable terms?", and the answer to THAT question is - "you pay School A what you owe". There are no backdoor ways to force School A to remove a hold on transcripts, whether grades or financials. I hope this information helped you - good luck!

Question: Can your school disbursement date go back to the certification process? I am enrolled in a local college here and I went to the sallie mae website to see when my disbursement date was. It said June 23 but when I logged back into my account today it went back to the certifacation process/ Could this be a mistake or will my funds still be disburesed June 23? Any ever have this happen?

Answer: Jus: Before your lender can disburse the loan funds, they need your school to "certify" that you are registered and attending, and they need a final "number" from your school that represents your financial aid need. The certification process isn't part of the approval - it sounds like you've already been approved for the loan - but the certification process does determine exactly how much you are eligible to borrow. Your school does certifications all day long - they'll get that information to Sallie Mae, and your loan funds should be disbursed as scheduled. I hope that helps - good luck!

Question: what are the differences between the expenditure cycle and the disbursement cycle? what activities in the expenditure cycle are not in the disbursement cycle, and vice versa?

Answer: The accounts payable is the difference between total purchases and cash disbursements linked to purchase events. http://home.millsaps.edu/burkekg/aisch18.htm