Hi! I received an email dated Jan. 8, 2010 that my loans (Stafford Subsidized and Unsubsidized) had been certified on Dec. 16, 2009. The email, from my Financial Aide office, said that the lender usually requires 7-10 working days before allowing disbursement. The email offered a link for ELM Resources where I can login to get the status of my loan and disbursement date. I checked but there is no loan information on that website other than my name and address and other private identifying information. Because I am a first-time borrower my school says I must wait 30 days from the beginning of the first day of the term borrowed before my loan will be disbursed.

I am concerned because it has been over 7-10 days (it's been about 3 weeks) since my loan was certified and there is no electronic information on it. The 30th day waiting period is approaching in 3 weeks and I am depending on that loan.

Does anyone know anything about this? As to why there would be no loan information on my account? Would it appear only when I have received it? That doesn't make sense to me...

Thanks!

This is probably an issue to take up with your school's financial aid office and your lender. Has the semester started yet? If not it could be thirty days after the semester starts until the loan is disbursed. Also it is important to know that the loans will be sent directly to your school's financial aid office and not to you. Check with you financial aid officer to see if they have received the loan money.