Generally, your loan will cover a full academic year and your school will make at least two disbursements to you. For undergraduate students your loan will be disbursed at the beginning of each semester and for graduate students at the beginning of each term.
Capitol Technology University will disburse your loan money by crediting it to your account to pay (tuition and fees, room and board, and other authorized charges). If the loan disbursement amount exceeds your school charges, Capitol will pay you the remaining balance of the disbursement directly by check. You will also receive a notice from your loan servicer confirming the disbursement. You should read and keep all correspondence received concerning your loan.
Using the loan for education expenses: You may use the loan money you receive only to pay for your education expenses at Capitol. Education expenses include school charges such as tuition, room and board, fees and indirect expenses such as books, supplies, equipment, dependent child care expenses, transportation and rental or purchase of a personal computer.
Enrollment status & other changes
It's important to keep the your loan servicer informed of any changes in your status, so that your loan information is up-to-date. This is your responsibility.
You must notify the loan servicer if you:
- Change your local address, permanent address or telephone number;
- Change your name (for example, maiden name to married name);
- Do not enroll at least half-time for the loan period certified by the school;
- Do not enroll at the school that certified your loan;
- Stop attending school or drop below half-time enrollment;
- Transfer from one school to another school; or
Until you graduate or leave school, you must also keep the financial aid office informed of these changes.
A scheduled break in enrollment, such as the summer session at many traditional 4-year schools, is not considered an interruption in your enrollment if you are planning to return to school during the next regularly scheduled enrollment period.
When you graduate, drop below half-time, or withdraw from your academic program, you will receive a six-month grace period for your Direct Subsidized and Unsubsidized Loans. You will have a nine-month grace period for your Perkins Loan. Once your grace period ends, you must begin repaying your loan(s).