Disbursement of Funds
Upon completion of your Master Promissory Note (MPN), your lender will send your loan funds electronically to College of DuPage according to the dates listed on your Notice of Guarantee (NOG). Students who choose to borrow through our preferred lender IDAPP may complete the MPN online. Failure to complete your MPN will delay the disbursement of your loan funds.

• If your loan period covers more than one term, your loan funds will be disbursed equally over each term.

• If your loan period covers one term, your loan funds will be disbursed equally at the beginning of the term and at the midpoint of the term.

• If you are not registered for at least six credit hours at the time the lender disburses your loan funds, your loan funds will be returned to your lender. It will then be your responsibility to send a written request to the Office of Student Financial Aid to reinstate your loans once you have registered for at least six credit hours. Requests will not be taken over the phone.

• If you are registered for at least six credit hours at the time of disbursement, your loan funds will be placed directly on your student account.

Any remaining loan funds in excess of your educational costs will be mailed to your address within approximately 14 days of being placed on your account and no earlier than the start of the term. It is the student’s responsibility to keep the Registration office up-to-date with a current address.

After the loan funds have been placed on your student account, you will receive an updated Statement of Fees from the Cashier's office. This will serve as your notification of funds on your account. If you wish to have your loan canceled, you must notify the Office of Student Financial Aid in writing within 14 days from receipt of the notification.

If you are a first-time Stafford Loan borrower at College of DuPage, disbursement of your loan funds will be delayed until 30 days after the start of the term. Any loan funds in excess of your educational costs will be mailed to your address within approximately 14 days of being placed on your account. It is the student’s responsibility to keep the Registration office up-to-date with a current address.

Withdrawals:
According to the Federal Refund Policy, if you withdraw from all your classes prior to completing 60 percent of the term, you could owe a refund of grant and/or loan funds to College of DuPage and to the Federal Government. The amount owed is based upon your grant and/or loan eligibility.

Federal Financial Aid is paid based upon attendance in class. If you receive a failing grade or are withdrawn from a class for failure to attend, you may owe a portion or all of your grant and/or loan funds to College of DuPage and the federal government. The date of your last participation in an academically-related course determines the period used for identifying your final award.

As always, contact the Office of Student Financial Aid prior to dropping classes.