Student Loans

If you have never taken out a student loan before (or your prior student loans have already been closed,) you will receive an instruction sheet for completing your Entrance Counseling and Master Promissory Note after you have submitted your Loan Request Form. You can also find a copy of those instructions here.

Drop by our Financial Aid Lab Hours to receive one-on-one assistance. You may also schedule an appointment with the Loan Processor for additional in-person loan counseling by calling our office. Hours and contact information can be found on the left side of this page.

Federal student loans are always disbursed in two equal disbursements for the award period. If your loan is awarded for a full academic year, that usually means one disbursement in fall and another in spring. However, if your loan is awarded for one semester, you can still expect to receive two disbursements: one in the first half of the semester, and another after the midpoint of the semester has passed.

First-time Borrowers are NOT eligible to receive a loan disbursement until AFTER 30 days from the start of each semester; therefore, first-time borrowers can expect to receive their loan disbursement by the SECOND disbursement date of each semester, so long as all other requirements are met by the published documentation deadline for the second disbursement date below.

Fall 2019

Spring 2020

Summer 2020

*Documentation Deadline: For continuing borrowers, this includes only the online Loan Request. For first-time borrowers, you must complete the online Loan Request AND the online Entrance Counseling and Master Promissory Note. Watch this video for details on completing these steps. ALL requirements must be completed by this date in order to receive your loan disbursement on the corresponding Funding Date.

**Award Calculation Date: You must be enrolled in and attending at least 6 degree-applicable units by this date in order to qualify to receive your loan disbursement on the corresponding Funding Date. If you drop units, or have later starting courses that result in less than 6 units, you will not qualify for disbursement.

***Funding Date: This date reflects the day funds will be transmitted to BankMobile. All students MUST make a selection in order to avoid delay of 21 days in their scheduled disbursement. Visit m.4cd.edu and tap the “Financial Aid” tile to make a disbursement selection. The following is the timeline by which you can expect to receive your funds: BankMobile Vibe Account – End of the day on the Funding Date; ACH/Direct Deposit – 1-2 business days from the Funding Date; Paper Check – 5-7 days from the Funding Date.

****August 7, 2020, is the FINAL documentation deadline to request a student loan for the 2019-2020 academic year. Loan Requests that do not have ALL required documentation completed by this date cannot be processed.

(±) Dates marked with this symbol above may include retroactive disbursements for prior semesters if the student has been determined to be eligible for a retroactive loan disbursement.