Bulletin ID
DLB - 97 - 40
| PublicationDate: 10/1/97 BulletinID: DLB - 97 - 40 October 1997 DLB-97-40 SUBJECT: Disbursement Regulations -- REMINDER Dear Colleague: For disbursements made on or after July 1, 1997, a Direct Loan disbursement occurs when a school credits a student's account at the school or pays a borrower directly with Direct Loan funds OR institutional funds (used in advance of the school receiving actual Direct Loan funds). HOWEVER: - If the school disburses institutional funds ten or more days prior to the first day of classes, the date of disbursement is the date of the 10th day before the first day of classes. - If the school disburses institutional funds to a first-time, first-year, undergraduate borrower sooner than thirty days after the start of classes, the date of disbursement is the date of the 30th day after the first day of classes. We are committed to providing the best level of service to you. Thank you for your ongoing support of the Direct Loan Program. Sincerely, Joe L. McCormick Chair Direct Loan Task Force |