Everything You Need to Know About Private Student Loan Disbursements and Funding

Your school may have determined the full amount of private financial aid was not needed.

If the school reduced the amount of the approved loan, the disbursements would add up to the certified amount, not the approved amount.

What happens if I don’t end up needing the additional disbursements or the full Private Student Loan amount requested?

A few things can happen in this scenario:

If the second disbursement has not been sent to the school, we can submit a request to cancel the additional disbursement.

If the disbursement has already been sent, then the school will send the excess back to SoFi and we will forward that to our servicing partner to reduce your overall loan amount owed; OR the school will give the excess funds to the student and the excess funds can be applied as an early payment, or used for qualified education expenses.

My Private Student Loan Final Disclosure shows a deferment period, but I'm supposed to make payments while in school. Why?

The date of your first payment depends on which repayment option you selected before signing your loan agreement. Even if you chose an in-school repayment option, the deferment shown is just reflecting the gap between disbursements and when billing officially starts.

Please note that you are able to make early payments between disbursements if you would like by logging into your SoFi account.

Have more questions? Chat with us or call 855-456-7634 to speak with an agent.