Student Loans

Effective Date: 07/01/00

Procedure Statement 2: Borrower's Demographic


Policy

After an award is accepted the borrower's demographic information must be moved from the holding area to the Student Loans System. This information is brought to the holding area from the Financial Aid Data Base, then the money is electronically transferred. The hold is released so that money can transfer to the University Cashier's Office and a check can be processed. Or if the student elects they can have the money deposited directly into their checking account after tuition and other fees have been paid.

For those receiving paper checks instead of electronic funds transfer, they are moved to the Student Loan System when checks are received in the Student Loans Office. This is a manual process and is done a batch at a time. Normally this process is used only with Medical Students.