Students may apply for a Stafford or Institutional Loan from an outside lending agency. Funds are received electronically, via ACH, from the lender, and disbursed to the students' accounts by the Office of Financial Aid. Business Services will assist Financial Aid with the reconciliation of these proceeds, and the student with a refund of these proceeds, if applicable.
This policy seeks to inform students of the applicable department and college employee that will process and account for student loan disbursements.
Davidson College shall assist students with loan disbursements. The Business Services staff assistant shall reconcile loans disbursed to student accounts by Financial Aid. The Business Services staff assistant shall also post transactions based on information received from E-mails from Financial Aid Office.
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.
Last Reviewed: Summer 2010