Is it legal for a bank to start charging interest on a Federal Stafford student loan weeks before you even recieve the money?

I was given a Unsubsidized Federal Stafford Student loan for college by a bank, which in return relesed the money over to my college. The college has not deposited the loan money to me yet after almost a month for unknown reasons. I contacted the bank that issued the loan and found out I am being charged interest on a daily basis since the time the bank realesed the money to the college. The school seems not to be doing their job. Is this legal?