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Michigan Student Financial Aid: Paying for CollegeMichigan.gov, Official Website for the State of Michigan
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Can I receive my loan funds in a lump sum?

The answer is no. Federal regulations require the lender/servicer to disburse each Stafford and PLUS loan in two or more installments. No installment can exceed one-half of the loan amount. There are two exceptions to this multiple disbursement requirement:

  • A lender/servicer is not required to disburse a Federal Consolidated Loan in more than one payment
  • A lender/servicer is not required to make more than one disbursement of any Federal Family Education Loan if the student is attending an eligible foreign institution
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