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When Will You Receive the Money?

That depends.  BMCC can only disburse funds to your BMCC student account after we are notified by the U.S. Department of Education that an accepted MPN is on file for you.  You may check your MPN status by logging on to your BMCC Student Wolfweb account or at www.studentloans.gov.  Your net loan disbursement (term award, less origination fee) will be divided over the number of terms of your loan period (or by two for a single term loan period) and applied to your student account.   

Note to First-Time Borrowers: Before your first disbursement can be released, federal regulations require BMCC to confirm you are still eligibly enrolled 30-days into the first term of your loan period.

Funding will first be applied toward any tuition/fee or authorized non-institutional charges that may have accumulated on your BMCC student account.