Loan disbursements (US Direct Loans)
Find out about loan disbursements for US Direct Loans, including when payments are usually made.
Disbursement dates
Loans will be disbursed around one week after the start of each semester or, if you are enrolled at the Melbourne Business School, at the start of each module.
We will notify you via your student email address when the funds have arrived. The email will include information on the amount in Australian Dollars (AUD), and instructions on how to update your bank account and address details so that your funds can be electronically transferred into your nominated bank account.
Payment variations
When you apply for or renew your loan each year, you must confirm the amount that you will borrow. Loan disbursements are usually not the same amount as your loan amount, because of exchange rate fluctuations and the deduction of fees made by the US Department of Education.
Information on fees and rebates is covered in your entrance counselling, and can be found in the disclosure statement sent to you when your loan is disbursed.
Tuition fees
Students with a US Direct Loan will have their fee due dates extended to align with their loan disbursement dates, and can disregard the due dates on their Statement of Liability (where the dates are not updated due to system limitations). You will be exempt from any debt sanctions or late payment fees until seven days after the loan disbursement date.
Any tuition fees owing are automatically deducted from your disbursement. If the loan disbursement amount is more than the tuition fees, the remaining funds will be deposited into your nominated bank account via Electronic Funds Transfer (EFT). If your details are correct, the process should take ten days from the date of disbursement.
If the loan disbursement does not cover the tuition fees that are due, you will need to pay the difference by the fees due date or, if the loan disbursement was received after the fee due date, within seven days of the loan disbursement date.
If your tuition fees are higher for one semester, you can contact our Fees team to ask for a payment plan to deduct the fees in equal instalments in line with your loan disbursements. While you are on a payment plan, your Statement of Liability will show outstanding fee amounts.
If you are enrolled in a year-long subject, the tuition fees for that subject will be split so you will have two equal instalments over the year.
Need help?
- For further details on available financial assistance programs, contact the relevant government agency in your home country.
- For information on how these programs work at the University of Melbourne, contact our International Financial Aid team.