FAQ - I received notice that my Private Educational Loan was certified by the university, but I have not seen it credit to my Bursar's student account. How long will it take to post?

Question
I received notice that my Private Educational Loan was certified by the university, but I have not seen it credit to my Bursar's student account. How long will it take to post?
Answer

Federal law mandates a minimum “Right to Cancel” waiting period. It can take up to ten business days before authorizing the disbursement of state or private educational loan funds. This “Right to Cancel” period can vary per lender, but typically begins after the borrower signs the Loan Approval Disclosure (sometimes referred to as the Final Loan Terms). Be sure to include the ten business day waiting period when planning for your bill payment. After the ten day period, your funds are then sent to the University of Arizona and processed directly to your Bursar's student account.