I am a graduate student at Anderson Univ receiving Stafford federal loans. But, we are four weeks into our semester and the financial aid office has still not disbursed funds…in fact, they money has not even been posted to students’ accounts yet. The univ has been implementing a new software logic to pay out loans, and it is still not working.
Are there regulations about such delays? It is defeating the point of getting loans to help pay bills during school if the loan money isn’t even here to use.
All the regs say is that is is suppose to be single at least once a semester, and that isn’t even always the case if someone didn’t apply before the schools priority deadline. I have seen aid (many times – in fact) single AFTER the semester is over. Even if you did complain to the Dept of Ed, they wouldn’t do anything about it.