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Disbursement of Financial Aid

How will I receive my loan?

Your funds will be received electronically and will be applied to your student account. Any remaining funds will be credited and distributed to you by TouchNet. Visit https://secure.touchnet.net/C20418_tsa/web/index.jsp. to select your method of refund processing.

What can I do if I do not have enough funds to cover my total term balance?

Prior to the university payment due date, students can select a payment plan to cover the amount owed.

After my university debts are paid, when will I receive any remaining financial aid funds?

Once financial aid funds are disbursed to a student's account, and all university debts are paid, Bellevue University will release any remaining funds (refund) to TouchNet. All BU student refunds are then distributed by TouchNet. These funds will be sent to TouchNet within 3 days of appearing on a student's account. Thereafter, refund processing times are determined by a student's refund preference.

When will I have to repay my loan(s)?

Repayment of your loan(s) begins six months after you graduate, withdraw from school, or drop below half-time status.

How does school loan deferment work?

To qualify for an in school deferment you need submit a form provided by your lender. You must be enrolled in an eligible institution at least "half time". If you aren't clear on whether you're attending half time or more please contact your Student Financial Services counselor. Your deferment will last as long as you meet the requirements. Once you fall below half time enrollment or reach your expected graduation date your deferment should end.

When do I have to start repaying my student loans?

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you begin repayment. During this period, you'll receive repayment information from your loan servicer, and you'll be notified of your first payment due date. Payments are usually due monthly.

What if I can't repay my student loans after I graduate?

If you're having trouble making payments on your loans, contact your loan servicer as soon as possible. Your servicer will work with you to determine the best option for you.

What is Capitalization?

The practice of adding unpaid interest charges to the principal balance of an educational loan, thereby increasing the size of the loan. Interest is then charged on the new balance, including both the unpaid principal and the accrued interest. Capitalizing the interest increases the monthly payment and the amount of money you will eventually have to repay. If you can afford to pay the interest as it accrues, you are better off not capitalizing it.

What is Default?

Failure to repay a loan according to the terms of the promissory note. A loan is in default when the borrower fails to pay several regular installments on time (i.e., payments overdue by 270 days) or otherwise fails to meet the terms and conditions of the loan. Note: if you are in default, you may want to check out the Department of Education's Default web page.

What is Deferment?

A deferment allows a borrower to postpone loan repayment. The federal government pays the interest charges during the deferment period on subsidized loans. Students with unsubsidized loans are responsible for the interest accrued during deferment. Students may delay paying interest charges by capitalizing the interest, thereby increasing the loan amount. Most federal loan programs allow students to defer loans while attending school a minimum of half time. Deferrals of principal and interest also are available for service under the Peace Corps Act, service under the Domestic Volunteer Service Act of 1973, or comparable service as a volunteer for a tax-exempt organization of demonstrated effectiveness in the field of community service (deferment forms are available from your lender, servicer, guarantee agency, or the Student Financial Services Office). Deferment is not permitted for loans in default.

What is Forbearance?

Forbearance is the temporary postponement or reduction of student loan repayment, while interest charges continue to accrue, even on subsidized loans. The borrower must continue paying the interest charges during the forbearance period. Forbearances are granted at the lender's discretion, usually in cases of extreme financial hardship or other unusual circumstances when the borrower does not qualify for a deferment. You can't receive forbearance if your loan is in default.

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