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Loan Disbursement & Repayment Information

Responsible borrowing helps you pay for college, but also helps you establish a good credit history. Similarly, not making your regular monthly payments can result in a poor credit rating or even default.

It’s important to understand that your loan is a legal obligation and that you will be responsible for repaying it with interest. You may not have to begin repaying your federal student loans right away, but you should understand your responsibilities as a borrower before you take out a loan.

Loan Counseling

Entrance (Loan) Counseling

Students receiving Direct Subsidized and/or Unsubsidized Loans and Graduate PLUS Loans through the Department of Education, must complete Entrance Loan Counseling.

Direct and/or FFEL (Federal Family Education Loan) Loan borrowers complete entrance counseling at least once. In addition to Federal Direct Unsubsidized and/or FFEL Loan entrance counseling, graduate students borrowing a Graduate PLUS Loan must also complete Graduate PLUS entrance counseling.  Parent PLUS borrowers do not complete entrance counseling, but may be required to complete PLUS credit counseling if approved with a credit appeal or an endorser.  Note:  PLUS credit counseling is not the same as entrance counseling.  It is possible for a Graduate PLUS loan borrower to complete both entrance counseling and PLUS credit counseling.

Entrance counseling is designed to help you better understand the terms and conditions of the loan you are about to borrow and your rights and responsibilities when you borrow from the federal government. When you complete the electronic Master Promissory Note (MPN), you are agreeing to repay all the loans made to you under that MPN.

You will need to complete entrance counseling and a Federal Direct Loan Master Promissory Note only once to cover all Federal Direct Subsidized and/or Unsubsidized Loans that you borrow for up to 10 years, and once for Graduate PLUS Loans or Parent PLUS loans that are not endorsed.

Failure to complete these requirements will keep your loan funds from crediting to your student account.

Exit (Loan) Counseling

Federal regulations require a student borrower must complete exit counseling upon ceasing at least half-time attendance, withdrawing or graduating, regardless if you plan to later enroll at TU or transfer to another school.

For the definition of half-time enrollment and an explanation of the TU withdrawal process, please refer to Withdrawal Information.

To insure you are in compliance with federal regulations and do not risk defaulting on your federal loans, you will need to complete exit counseling.

If you have any questions or concerns about your federal student loans as you complete the entrance counseling, Master Promissory Note, or exit counseling, please contact: .

Loan Disbursement Procedures

Unless otherwise noted, the amount(s) listed on the Award Letter are yearly awards with one-half applicable to the Fall semester and one-half to the Spring semester.

Direct Subsidized/Unsubsidized Loans are estimated on a student’s award letter when we receive a FAFSA. The loans are then processed through the U.S. Department of Education once the student electronically accepts their award indicating they wish to accept the loans. The funds are credited to the student’s account once the entrance counseling and Master Promissory Note are completed at Both items must be completed before funds are received at TU. The U.S. Department of Education electronically sends TU notification of both completed documents, then the loan funds are credited to the student’s account no earlier than the first day of class each semester. A disbursement funds letter indicating the type of loan(s) and amount(s) will be emailed to the student’s TU email when funds credit. A student has the right to cancel all or any portion of the loan within 14 days of the loan crediting their account. It is the student’s responsibility to notify the Office of Student Financial Services, in writing, if they wish to reduce or cancel their student loan(s).

Refunds due students as a result of financial aid funds exceeding TU charges will be processed by the TU Bursar’s Office. Students should have personal funds to meet necessary initial expenses such as books and supplies. Many families make funds available by establishing a checking account at a local bank.

Debt Repayment Information

TU students have been responsible borrowers. Here are a few facts:

  • TU’s three-year cohort default rate is 1.8%.
  • Approximately half of TU students borrow while in school.
  • TU undergraduate federal loan borrowers graduating in May 2018 had an average debt of $26,457 resulting in a 10-year standard monthly payment of approximately $274 per month at today’s interest rates.

The average indebtedness based on college is as follows:

Undergraduate College

% who borrowed

Average Debt

Arts & Sciences 37% $24,709
Health Sciences 62% $32,859
Engineering & Natural Sciences 43% $25,858
Business 31% $23,389

Graduate College*

% who borrowed

Average Debt

Arts & Sciences 33% $29,844
Health Sciences 52% $43,531
Engineering & Natural Sciences 33% $40,934
Business 29% $23,741
Museum Science & Management 67% $44,867

Law College*

% who borrowed

Average Debt

College of Law 81% $75,862


*Includes loans taken while at The University of Tulsa during undergraduate years

To learn more about specific loan payment plans, use the following links:

Private Loan Repayment Information

Refer to your Master Promissory Note or Final Disclosure Form from your private loan lender for specific details regarding terms and conditions or you may directly contact them. You may also contact Student Financial Services for general information or questions.

Loan Deferment Information

If you are entering The University of Tulsa AND have student loan debt, please self-report this school change to the National Student Loan Data System (NSLDS). This will assist you in obtaining an in-school deferment status if eligible.

  1. Click here for the Student Access page of NSLDS
  2. Log in using your FSAID
  3. Click on the 4th tab titled “ENROLL” in the menu bar
  4. In the drop down box choose “Oklahoma”, “University of Tulsa” then provide the date you will begin attending TU and click “Add”
  5. Click “SUBMIT” to save changes