Typically, when you receive federal student loans each semester, your college will deduct your college expenses like tuition, fees, and college housing before making the remaining funds available to you. The funds that you receive are expected to cover any remaining educational expenses you may have. First time borrowers are expected to complete entrance counseling before their funds will be disbursed. In addition, an undergraduate student must wait 30 days after the semester has started to receive their student loan disbursement the first time.
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|Jennifer Mathes, Ph.D.|