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 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 studentloans.gov. 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 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 2020 draft default rate is 0.0%.
- Approximately half of TU students borrow while in school.
The average spring 2024 indebtedness based on college is as follows:
| Undergraduate College | % Who Borrowed | Average Debt |
| Arts & Sciences | 55.10% | $22,757.35 |
| Health Sciences | 44.25% | $24,150.70 |
| Engineering & Natural Sciences | 36.94% | $24,047.10 |
| Business | 43.75% | $19,223.43 |
| Graduate College | % Who Borrowed | Average Debt |
| Arts & Sciences | 38.71% | $45,894.75 |
| Health Sciences | 61.11% | $113,992.42 |
| Engineering & Natural Sciences | 31.82% | $86,091.00 |
| Business | 51.72% | $59,848.73 |
| Law College | % Who Borrowed | Average Debt |
| JD | 75.82% | $112,351.04 |
| LLM | 0% | $0.00 |
*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 Repayment after Withdrawal
When you withdraw from the university, repayment of your student loans begins 6 months (or 9 months for Perkins loans) after you are no longer enrolled at least half-time. If you enroll at least half-time in a college (either at TU or another school) during your 6 month grace period, you still can qualify for an in-school deferment.
The following breakdown explains what is considered at least half-time at TU during regular terms:
| Full Time Hours | Half Time Hours | |
| Undergraduate | 12 + | 6-8 |
| Graduate | 9 | 5 |
| Law | 12 | 6 |
For summer terms, the definition of half-time enrollment is:
- Undergraduate – 6 hours
- Graduate – 5 hours
- Law – 6 hours
If at any time you drop below half-time enrollment, you become ineligible for Federal financial aid with the exception of undergraduates who may receive their Federal Pell Grant for less than half-time.