<p>Hi all, I have $5500 Federal Subsidized Direct Loan provided in my FA package. I accept the full loan amout and finish the counselling session and MPN on 8/16.
Does anybody know usually it takes how long for UCB FA office to process the loan then I will get the money?
And the loan will be divided to several payments or one payments each semester?</p>
<p>Your total aid amount will be divided evenly into half by Fall Semester and Spring Semester. You should be receiving the loan amount as a one time full payment (minus half of it, which you will receive come Spring Semester). I don’t think there should be a delay in your loan disbursal, but do check frequently in MyFinAid –> Award Payment Status to see if your loan amount has been “paid” (to you). You should also be receiving an email stating that X amount in $ will be transferred to the bank account you registered under EFT.</p>
<p>Also keep note that a few dollars of your total loan amount (I’m talking less than $20) will be taken off as a loan fee, so don’t panic if you see that the loan money you received isn’t 100% the amount you signed up for. I think this was mentioned in your load counselling…</p>