How to Pick Up Your Student Loan Money

It's wonderful to get a student loan that has a great interest rate. But once you've got the loan, then what? Follow these steps to collect your student loan money.

Instructions

    • 1

      Know what kind of loan you have. Depending on the lender, you'll pick it up in different places or may not pick it up at all.

    • 2

      Federal student loan money goes to the school, where they usually either deposit the funds or send a check on to you. Check out government Web sites for more info.

    • 3

      Private lenders often will make the payment directly to the school.

    • 4

      Private lenders are increasingly making loans directly to borrowers. If this is the case, you'll receive money from them and will have to pay the appropriate amount to the school.

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