<p>How long does it generally take to get a refund from a student loan? My school has been super slow with everything. I applied for a loan in August, and the school finally accepted the loan towards the end of September, and the funds were supposedly dispersed on October 6th. However, I am supposed to receive about $5000 in a loan refund for rent/living expenses. I set up direct deposit with my school so the funds can go directly into my account, but it seems to be taking forever! </p>
<p>Federal student loans are not disbursed to the school until after the beginning of the semester, so students generally don’t get a refund until after classes start. And like romanigypsyeyes pointed out, most schools have a fixed disbursement schedule where they issue refund checks/direct deposits on a weekly/bi-weekly/monthly basis. And once that happens, your bank may put a hold on the money if the amount is larger than the normal transactions on your account. (Why would they would put a hold on a direct deposit? I have no idea, but my bank has done that before.)</p>
<p>So yeah, you might have to wait a little while but your school should be able to tell when to expect the money.</p>