A first-time borrower is an undergraduate student who is borrowing for the first time and has less than 30 credit hours. First-time borrowers may be subjected to a delay in the disbursement of the loan funds. The first loan payment is disbursed 30 days after the first day of the enrollment period. If the student withdraws during the first 30 days of classes, the loan is canceled and does not need to be repaid. Borrowers with existing loan balances are not subject to this delay.

Submenu A first-time borrower is a first-year student at Western who has not borrowed a federal loan while attending Western. First time borrowers are required to attend an entrance counseling session.

A first-year student who has no unpaid loan balances when he applies for a loan. First-time borrowers receive the first disbursement of their loan approximately 30 days after the first day of the classes. If the student withdraws during the first 30 days of classes, the loan is canceled and does not need to be repaid. Non-First-Time Borrowers receive their loan funds within a few weeks of the start of classes.