Loan proceeds under the federal direct loan programs are disbursed to the student's SCAD account in accordance with federal regulations. Requirements for loan disbursement:
- Federal Direct loans must be accepted via the student portal on MySCAD prior to the ninth week of class to ensure adequate processing time before the quarter ends.
- PLUS loan application has been accepted and credit approval received.
- A signed master promissory note (MPN) has been accepted and approved by the government.
- Entrance counseling (if applicable) has been received by SCAD.
- Student is enrolled at least half time in a degree-seeking program.
After a loan is approved for disbursement, loan proceeds are credited to the student's SCAD account the week following the end of the drop/add period each quarter. First-time Direct and Grad PLUS loan borrowers are required to complete loan entrance counseling. Students who do not have access to the Internet can schedule an in-person session with their adviser.