Take your student loan check to a bank or credit union where you have an account. You also can take it to the issuing bank, if possible. Other banks are not likely to cash the check.
Endorse the check. Your bank might place a hold on the check until it clears, meaning you will not have immediate access to the money. The bank also might require you to deposit the check if the amount is too large to cash.
Open a new account at a bank or credit union if you are dissatisfied with any restrictions on cashing your check, or if you do not have an existing account.