Federal Loan Disbursement Information

Federal Direct Loan (Subsidized & Unsubsidized) and Federal Parent Loan for Undergraduate Students (PLUS)

If you have been awarded a loan, your loan amount is indicated in JetStream under “Financial Aid” and then “Review and accept your Financial Aid Award Package”. The U.S. Department of Education will deduct a 1.057 percent (%) origination fee from your approved loan amount. PLUS loans will have a total of 4.228 percent (%) deducted. The U.S. Department of Education will send you additional information.

The dates listed below are estimated disbursement dates for the standard 15 week courses. These are the dates your loan funds will be applied to your JC student account. They are not refund dates. The actual date of your loan funds will vary depending upon your registration in late start classes. If you accept your loan after the semester began, you will have a later disbursement date. As indicated below, loans that are for fall semester only, spring semester only or summer semester only will have two disbursement dates.

Semester Earliest Date Loan Funds
Applied to your JC Account
Second Date Loan Funds
Applied to your JC Account
(for a one semester loan)
Fall 2023 10/02/23 10/23/23
Spring 2024 02/19/24 03/11/24
Summer 2024 06/24/24 07/01/24

You will be notified by the JC Financial Aid Office when your loan funds have been applied to your JC account. If you are due a refund, the JC Business Office will mail a check to your address on file, or on-campus mailbox.  Alternatively, you may sign up for direct deposit though your JetStream account under “Banking Information.” The JC Business Office generally processes refunds within one week from the date your loan funds are applied to your student account. Please contact the cashier’s office at 517.796.8420, option 1, for further information regarding refund time lines and direct deposits. After the semester begins, you can find further information regarding refund time lines for the current semester.

You must be enrolled in a minimum of six (6) Title IV credit hours to receive any loan funds. If you drop below 6 credit hours, are suspended from financial aid or reach your credit limit, your future loan disbursements will be cancelled. Your loan eligibility may also be reduced if you receive any additional financial aid and/or other educational resources.

Arrangements will be made to allow you to register for classes pending disbursement of your loan funds. If funds will be remaining after your tuition and fee charges, you will be given credit to purchase your books at the JC Bookstore approximately one month before the start of classes.


You may cancel or reduce your loan by sending the Financial Aid Office an email from your JC student email.  Specify the academic year/term, loan type, and your JC ID number.