Private Loan Disbursement

Paying for College
1

<p>Hi,</p>

<p>I recently applied and was approved for a loan via Citibank, however every time I go and check up on the disbursement dates online I am told there is not scheduled disbursement in the system, so I then check on the application status and it says it is awaiting final approval (no action required), which I thought odd because I was already approved and had my loan papers an such. Every time I call the bank I get an automated message and if I email them I also get some pre-written response, my school requires that my first tuition bill be paid by July 1st and I am beginning to fear that Citibank will not disburse the loan money to them by that date. I have contacted the school pertaining to this but since it is the weekend I could not get a response (I will try again on a weekday)---- I was wondering if any parent or student had any experience taking out private student loans and about how long it took for them to be disbursed. Should I be worried? </p>

<p>Thanks so much.</p>

2

<p>Bump? It’s kinda important/relevant to a lot of people.</p>

3

<p>Just wait until Monday and talk to the bank, it’s possible they are waiting for some sort of certification from the college that you are an enrolled student which is why no action is required on your part but I doubt anyone here is going to know the specifics of your situation. It’s also possible your college has had experience with Citi and can shed some light but you’re just going to have to wait until business hours.</p>