Can someone help me with FINAID ?\'s please?

posted 3 years ago in College
Post # 2
673 posts
Busy bee
  • Wedding: February 2013

cheetah2b:  which school is it? Is it an online only school? This sounds strange to me but could well be true for online only for profit institutions for the reasons you mentioned.

Post # 3
1216 posts
Bumble bee
  • Wedding: September 2014

cheetah2b:  I always had financial aid sent to my school and then got a rebate. At my community college it took a month after the semester for me to get a rebate (but my tuition was already paid out of this money) and at my current school I get my rebate before the semester starts (again with tuition already paid). I;ve NEVER had a problem with the financial aid going to tuition first. However my shcool wasn’t an online school.

Post # 5
371 posts
Helper bee
  • Wedding: June 2014

cheetah2b:  even with private loans the funds always come through the school. Once the school receives them and verifies the contracts they will cut you a check. The amount of time that takes depends on the lender and the school. They would know best. Also, make sure you double check and make sure that you can pay down interest without penalty — not all loans allow you to pay it down as you go. 


Good luck! I know it can be confusing and a lot to take in, but if you have any more questions feel free to post them!

Post # 7
11626 posts
Sugar Beekeeper
  • Wedding: November 1999

When I took student loans out (stafford loans) for both undergrad and grad school, the loans were all paid to the school, and then the school had “loan overage day” where there were legitimatly lines in the student center for students waiting to get their overages back (i.e., living expenses and whatever else the money was for).  I’ve never heard that student loans get paid to you directly.

Did your Financial Aid counselor have any insight into this?  You can’t be the first person to go through this, so I’m sure she, or someone else in the department, could figure out the approximate payout schedule.  There’s always a deadline that you have to file by to ensure the funds are paid in time, so they would know this date. 

Good luck!

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