All Federal Direct Loans at AUM are disbursed in two payments. Loans awarded for a single semester are disbursed in two equal payments over the semester awarded: the first payment is disbursed at the beginning of the term or loan period, and the second payment is disbursed at the midpoint of the term or loan period. However, Direct Stafford Loan funds for first-time, first-year undergraduate student borrowers may not be released until 30 days after the first day of classes for their first semester. Loan funds will be applied directly to your AUM student account.
Undergraduate students must be enrolled for at least 6 hours for the Direct Stafford Loan and Direct PLUS Loan funds to be disbursed. Graduate borrowers must be enrolled at least 3 hours of graduate coursework for federal loan funds to be disbursed.
A Master Promissory Note (MPN) or agreement to repay the loan must be completed and signed prior to the loan approval and disbursement process.
Students must also complete online Federal Direct Stafford Loan Entrance Counseling before funds can be disbursed.
Terms and Conditions of Title IV, HEA Loans
The university does not endorse or recommend any specific private loan lenders or products. To link to a nonprofit, independent website that provides information about private student loan programs and offers a comparison calculator, click here.