For U.S. universities, your disbursement schedule will appear on your MPOWER Dashboard after you e-sign your final loan documents. On the schedule section of your Dashboard you will see the following information for each requested disbursement (see screenshots below on how to navigate to this webpage):
- Amount: The amount to be disbursed on the indicated date.
- Projected Disbursement Date: This is the date by which your university’s financial aid office requested to receive your funds. MPOWER will make every effort to ensure funds arrive at your school on or close to the requested date. If this date is in the past, we will send the payment as soon as possible. Note that we can not schedule the payment during the four-day rescission period after you e-sign your final loan documents.
- Status: The current status of the disbursement.
- Date Disbursed: After we send the funds to your school, the date shown on your Dashboard is the estimated date your school will receive the funds. If the disbursement date is in the past, it may take your school several business days to apply the funds to your student account after receipt.
NOTE: Your “Projected Disbursement Date” and “Date Disbursed” will vary based on a number of factors. Please note that your disbursement must be applied to the school invoice for the academic period(s) indicated on your application.
As a reminder, interest will only begin accruing once your funds are sent to your university, as indicated by the “Date Disbursed” on your Dashboard.
Here are the steps to follow to see your student loan disbursement schedule:
- Navigate to “Manage My Loan” on your Dashboard after login:
- Next, click into your “Loan Details” and you will be shown disbursement details.