Award letters will be emailed to students with information on the amount the loan was approved for with an attached link to the disbursement schedule.
- Direct Loans will be disbursed in two separate installments.
- Student must be enrolled in a minimum of 6 units at the time of disbursement
- First Year (have not completed 30 units in your current program), First Time borrowers at Southwestern College will have a 30 day delay after the semester starts before the 1st loan disbursement.
- Direct Loan checks are disbursed via direct deposit or paper check through Higher One Financial Institute
- Direct Loan processing and disbursement will take approximately 4-6 weeks.
Right to Cancel Loan Disbursements
Please note: Students have the right to cancel all or a portion of their loans and have their loan proceeds return to the holder of that loan. Southwestern College will provide the student information on the Right to Cancel all or a portion of their loans on the student’s award letter once the loan has been certified. Student must notify the financial aid office within 14 days of receiving their funds by completing the Federal Direct Loan Cancelation Form. The completed form must be submitted to the financial aid office
Click here to access the Cancellation Form. Please replace the Cancelation form with the attached updated Cancellation.
Post Withdrawal Disbursements
Students who have withdrawn from classes and have a post withdrawal disbursement eligibility that includes Federal Direct Student Loan funds often do not wish to incur additional student loan debt. Eligible students will be notified via email and will have ten days to submit a Request to Cancel, Reduce or Reinstate Direct Loan Form to the Financial Aid Office if they wish to have their loan reinstated. If the form is not received within that time frame, it will be assumed that the student has chosen not to receive a post-withdrawal disbursement of their federal direct loan funds.