Your school will give you your grant or loan money in at least two payments called disbursements. In most cases, your school must give you your grant or loan money at least once per term semester, trimester, or quarter.
What if I have a credit balance?
Then your school must pay this amount to you directly within 14 days unless you authorize the school to keep the money to pay for future institutional charges.
When do schools that participate in federal student aid programs have to help me obtain my materials needed for my studies?