Brown University shieldBrown University

Loan Process - Application, Requirements, Disbursement

Loan Process

  • Review and Accept/Decline financial aid offers. Students must accept or decline loans online through Banner Self Service beginning May 2nd each academic year. Students can choose to accept the full amount offered, a partial amount based on what is needed, or decline any loan.  
  • Complete loan requirements -  Go to the Financial Aid tab in Banner Self Service and select Requirements to view all unsatisfied requirements.  The Loan Office will send detailed emails with instructions for completing online entrance counseling and promissory note requirements. 
  • Disbursement - All loan requirements must be completed and the scheduled disbursement date must pass before loan funds will be disbursed (paid) to the student account. Loan funds are typically scheduled to disburse 10 days before the semester begins. If the loan disbursement results in a credit balance on the student account, students may request an electronic student account refund through the Bursar's Office. The Bursar Office will begin processing refunds on the first day of classes.

Plan Ahead

  • Keep track of borrowing each year - Visit the "Manage Loans" section of to view your federal student aid history and get federal servicer's contact information. Borrowers can also get details of institutional loans on Banner Self Service.
  • Complete Exit Counseling before leaving school - Exit Counseling is a mandatory requirement whether you are taking a leave of absence, withdrawing, graduating, or enrolling less than half-time.
  • Grace Period- Loans enter a grace period when you leave school. No payments are required, but it's a great time to pay down your debt and reduce your overall cost of repayment. It's also a good time to make decisions about loan repayment, get to know your servicers, and set up online account access. 
  • Repayment - You want to be prepared before your loans enter repayment.