Disbursement of Campus-Based & Institutional Loans
- The Student Loan section of the Bursar's Office
mails a promissory note to students for Federal Health
Profession, Nursing, Primary Care and loans from various institutional
funds. For Federal Perkins loans, an on-line Master Promissory Note is created.
- Students accepting a Perkins Loan must go to the web site of
our loan billing servicer,
ECSI
,
to sign the on-line Master Promissory Note. Students with other types of loans
must sign and return the promissory note that was mailed to them.
- Once the promissory note is received (or signed on-line) and loan
eligibility verified, the loan proceeds are released and applied
directly onto the student's Tuition and Fee Student Account.
- If there are no charges to pay, or the amount
of aid is greater than the amount of charges, the excess is refunded
to the student.
- Refund checks are mailed to student's active 'mailing' address.
- If there is no active mailing address, the system will use an active 'home' address.
- If neither exists, a refund cannot be processed until the student updates addresses on the http://my.wisc.edu website.
Disbursement procedures for different types of financial aid:
- Federal Family
Educational Loan Program (FFELP)
- Subsidized Stafford Loan
- Unsubsidized Stafford Loan
- PLUS
- State Grants
- WHEG
- TIP
- Indian
- Handicap
- Campus-Based Institutional Grants
- Institutional Scholarships
- External Scholarships
- Private Loans