All disbursements through ASA are electronic and will appear on your student account no earlier than ten days before the start of classes for that academic year. If you choose to borrow through a lender that is not guaranteed by ASA, your funds will be sent via paper check.
Federal regulations governing the Stafford loan program stipulates that the school must not hold a loan disbursement for more than three days after receipt without crediting the student's account. Also, the loan cannot be disbursed to the account until all requirements (registration, entrance counseling, eligibility, etc.) are met. Due to this time constraint, ASA initially sends Boston College a pre-disbursement roster electronically listing all of the loans that are ready to be disbursed. Boston College then checks each record to make sure that each student has met all regulatory criteria and that the disbursement can be accepted. ASA is electronically notified of those records and the disbursement is sent. Boston College receives disbursements electronically from ASA via EFT every Friday throughout the processing cycle.
Once the disbursement is received, and assuming all regulatory criteria continue to be met, your student account is credited and you will be notified of the disbursement.
Refunds:
If the disbursement of your loan results in a credit balance on your student account, you may request the credit balance be refunded to you through your Agora services account. When requesting a refund, you may indicate to whom you would like the check made payable and to what address you would like the check sent. You may also request that the refund check be held for pick-up at the Office of Student Services. Refunds are not available until the start of the semester.