Edamerica FFEL Disbursements Delayed "By a Few Days" (Update)
I have heard from a number of schools that Edamerica is pushing out their disbursement date for Federal loans by a few days due to the process of receiving funds through the Department of Education's loan purchase and participation program. Schools seem to have been given about a week's notice to address this delay. As posted earlier, Edamerica had more significant issues this fall with some schools seeing disbursements delayed by weeks.
Update (1/15/09): I spoke to an Edamerica representative who made the following points:
- Confirmed that several schools had seen their disbursements delayed by a few days or so but that it is NOT a widespread issue.
- In fact, most schools have received their disbursements on-time and some were even early (no specific data was available regarding percentages on-time vs. delayed).
- Attributed
the delays to holiday schedule at Department of Education which
impacted the timing of payments from the department to Edamerica.
- Believes that issue is now behind them and schools should anticipate timely disbursements from Edamerica going forward.
Comments