A majority of student loan disbursements come to Davidson College in the form of an Electronic Funds Transfer. Occasionally, a student loan provider will make a disbursement by a paper check.
This policy seeks to inform students and college employees of the procedure for processing a paper check payable to a student or parent (Stafford Loan checks are issued in the student's name and Plus Loan checks are issued in the parent's name).
The Office of Financial Aid shall forward any student loan disbursements arriving in the form of a paper check to the Office of Business Services.
The Office of Business Services shall obtain the necessary endorsements so that the check may be deposited and posted to the student's account.
The Controller/Director of Business Services shall oversee this policy and review it at least once every two years. Changes to this policy shall be made in accordance with the college's Policy on Policies.
The Office of Business Services shall observe the following administrative procedures:
The printing process is the same for all student payments.