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Check Disbursement
Spring, 2008
~January 30, 2008~
Alumni Hall between 1:00pm and 6:30pm
If you meet all eligibility criteria, your Financial Aid (including Stafford Loan funds) will be credited to your student account and applied toward tuition, fee and book charges. Any funds left over after all charges have been paid will be issued to you as a refund check.
After this date, checks will be available at the Student Loan Department (D101C) during regular office hours.
Two forms of identification are required to pick up your check:
• Your NEIU ID (mandatory)
• Any other photo ID
Additional Disbursement Information for Stafford
Loan Borrowers
Most Federal Stafford Loan funds are delivered to NEIU students via Electronic Funds Transfer (EFT). You will receive a notice from your lender listing the loan amount guaranteed and the recommended disbursement dates. For most students the first recommended disbursement date will be January 16, 2008. (For new freshmen the recommended disbursement date will be February 7, 2008). This is the date that NEIU will receive your funds electronically.Your funds will be credited to your student account within 3 days of the recommended disbursement date (January 16) if you meet ALL of the following criteria:
• You are meeting NEIU’s Satisfactory Academic Progress Policy.
• You have confirmed your registration with the Cashier’s Office.
• On the day your loan funds arrive you are officially registered with the Records Office for the number of hours you indicated on your NEIU Stafford Loan Information Sheet. If you are unsure of the enrollment you indicated on your form, you should contact the Financial Aid office immediately. NOTE: You must be enrolled at least half-time (6 credit hours) to receive a Stafford Loan.
If you meet all eligibility criteria, your loan funds will be credited to your student account and applied toward tuition, fee and book charges. Any funds left over after all charges have been paid will be issued to you as a refund check.
Your loan funds may be reduced and/or your loan will be canceled if you do not meet these criteria on the day your loan funds arrive. Your loan funds may also be reduced and/or canceled if you have been awarded additional types of Financial Aid since your loan was originally guaranteed.
Special note to students with loans for SPRING, 2008 only: If your loan is for the Fall term only, you will receive your loan funds in 2 payments: one-half of your funds will be credited to your account on January 16 and one-half of your funds will be credited to your account on March 6 (the mid-point of the term.)
Book Waiver Eligibility: If your loan funds exceed your tuition and fee charges, you may participate in the Book Waiver process. Any amounts charged at Beck’s Bookstore will be deducted from your loan refund check. Book waivers are available to students for a limited time during the first week of class. To see a complete schedule with dates, times & places, please see our Book Waiver Schedule.
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