I’ve approved my loan from Avanse, and they have already sent the tuition fee to the university. When will the next payment be disbursed to my account?
As someone who has gone through the process, here’s a quick breakdown of how Avanse typically handles the disbursement process:
- Disbursement Stages:
- Avanse usually disburses funds in multiple stages, depending on your loan agreement. After the initial tuition payment to the university, any further disbursements, such as living expenses or personal funds, are made directly to your account.
- Payment Timeline:
- The next payment timeline can vary. Generally, it depends on:
- The schedule outlined in your loan agreement (usually before each academic term).
- If you’ve submitted all required documentation and provided the necessary disbursement request.
- Avanse often requires a disbursement request for each installment, ensuring funds are released as needed for different stages of your education.
- Account Disbursement:
- If your loan includes living expenses, Avanse will transfer those funds directly to your account. Once the tuition fee is paid, the next payment for living or other expenses typically arrives within a few weeks, assuming all documentation is in place.
- Follow-Up:
- It’s advisable to follow up with your loan officer or the Avanse team for clarity on the exact disbursement date for your next installment, as the schedule can differ based on your academic needs and university’s term dates.
In summary, if your tuition fee has already been sent, the next disbursement (for living expenses or other costs) should follow shortly, usually according to the schedule you’ve agreed upon with Avanse. I recommend confirming the specific timeline with your loan officer.