Private College Student Loan

Student Loans Through Sallie Mae?

I attend Baker College in Michigan and I have student loans through Sallie Mae. My question is, how long does it take for you to receive your loan once it says its disbursed? Also, mine is still awaiting to be disbursed, but it says its disbursement date is 03/27/2009. Is there anyway to speed this up? I need the money asap and it would be a relief to know if there is something I could do. Thanks!

Public Comments

1. Deevon: Disbursement date is the date that your loan funds are sent to your school. From your description, it sounds like the lender has already disbursed your funds - I'm going to guess that your school has the proceeds of the loan, but that they haven't processed them yet. In trying to figure out where the bottleneck has occurred, I'd start with the cashier's or bursar's office at your school. Bring them a copy of your printout, showing that your loan was disbursed on March 27th. I can't say how long it takes your school to process loan receipts in, but at least they'll be able to offer you some guidance on when you can expect the funds to be credited to your student account. Good luck!