Disbursement If your loan is approved for a full academic year, your loan funds will be disbursed in two equal disbursements electronically—one-half of the loan will be disbursed in the fall semester and the second half will be disbursed in the spring semester. At Lycoming, we stagger disbursements for each semester so it may take until late September (late January for second semester) for your account to be credited with your loan funds. We will not be able to give you any credit balances on your account until these funds have been disbursed. Applying for a Federal Direct Stafford Loan Students borrowing from the Federal Direct Stafford Loan for the first time must complete a two step process: 1). Go to www.studentaid.gov/entrance-counseling and complete the Entrance Counseling. Log in using your FSA ID. If you have not previously received a Direct Loan, the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming. This step is only required before receiving your first Stafford Loan. 2). Go to www.studentaid.gov/mpn and complete the Master Promissory Note (MPN). Log in using your FSA ID. The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). This step is only required before receiving your first Stafford Loan. 7
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