The Student Financial Aid Office disburses institutional and federal funds directly to Student Financial Services at least weekly. Funds are credited to student accounts electronically. Student records must be complete, enrollment status must be correct, and awards must be accepted before funds will disburse to student accounts. Loan funds are applied to student accounts weekly by electronic fund transfer. If a student chooses a nonelectronic lender, loan funds are applied to their account as soon as the loan check arrives at the Student Financial Aid Office. Paper checks may require the endorsement of the student.
Students must authorize direct deposit (on WIN) or complete a Refund Request Form from Student Financial Services, before any remaining financial aid is paid directly to them.
FEDERAL STAFFORD & PLUS LOANS
A bill recently passed by Congress and signed by the President has set interest rates for loans disbursed between July 1, 2013, and June 30, 2014:
Undergraduate loans: 10-year Treasury note rate + 2.05% (3.86%)
Graduate loans: 10-year Treasury note rate + 3.6% (5.41%)
Parent loans: 10-year Treasury note rate + 4.6% (6.41%)
FEDERAL PERKINS LOANS
The fixed interest rate for Federal Perkins Loans is 5%.
WAKE FOREST UNIVERSITY NON-FEDERAL INSTITUTIONAL LOANS
The fixed interest rate for WFU Loans is 5%.