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Financial Aid Q user banned
21st Aug '13

I get dumb at night or I wouldn't be asking this. For some reason, it's not clicking.



Anyways, if my school's financial aid calendar says that the fall term's loan disbursement starts the week of August 26th, that would mean that I would probably see my loan refund that week, right?

[Gryffinwhore♥] 3 kids; Poulsbo, Washington 33918 posts
21st Aug '13

At the school I go to, you can pick up your disbursement check the same day the funds are released.



Otherwise it gets mailed to you.

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44071 posts
21st Aug '13

No the school decides when it sends refund checks. My old school didnt send them til halfway through the sem. My current school sends them a few weeks in. Loan disbursement is just when the govt disperses the money and it is applied To your acct.

user banned Lesbos, Greece 95211 posts
21st Aug '13

Well, our school does paper checks or direct deposit and I have it set for deposit.



I remember getting an email that they were releasing funds and it'd be there the next morning.



I know it was within the first two weeks of the fall semester.



Because the calendar also says grant money won't disburse until Sept 9th.



I mean, it's fine but the refund money is how I pay for daycare so I can go to school. The director has already okayed me not paying the school until my refund disburses but I wish I knew when that would be. :x

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44071 posts
21st Aug '13

<blockquote><b>Quoting Nocturnal:</b>" Well, our school does paper checks or direct deposit and I have it set for deposit. I remember getting ... [snip!] ... The director has already okayed me not paying the school until my refund disburses but I wish I knew when that would be. :x"</blockquote>



They'll probably wait til that's disbursed then cause you'll get all of that back if your loan covers everything.

user banned Lesbos, Greece 95211 posts
21st Aug '13

Okay. I was able to find my details from last year.



I will have my refund back to me by the end of the first week in September...possibly next week since I did my 13/14 FAFSA earlier than I did my 12/13 and that affects it.



Good to know.

user banned Lesbos, Greece 95211 posts
21st Aug '13
Quoting Intrepid Detective Munch:" <blockquote><b>Quoting Nocturnal:</b>" Well, our school does paper checks or direct ... [snip!] ... They'll probably wait til that's disbursed then cause you'll get all of that back if your loan covers everything."

No.
Grants always come later than loans. That's just how it works here.

Kells. 18 kids; Fucking, Austria 17622 posts
22nd Aug '13

I would assume. That's what my school does. Once the disbursements start, I usually get the check in the mail about a week later.

ChristinaLynne 3 kids; Pancake, TX, United States 29607 posts
22nd Aug '13

I don't know your answer but I have a question. If you don't accept your loan right away and then turn around and need it can you accept it at any time during the semester?

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44071 posts
22nd Aug '13

<blockquote><b>Quoting ChristinaLynne:</b>" I don't know your answer but I have a question. If you don't accept your loan right away and then turn around and need it can you accept it at any time during the semester?"</blockquote>



I don't think so. We have to sign a paper saying we don't want it all so I doubt you'd be able to go back on that later. My suggestion is take the loan put it in an acct and just let it sit each sem. Before u finish school whatever you have left pay back to your lender. Then if u had an emergency it's there.

ChristinaLynne 3 kids; Pancake, TX, United States 29607 posts
22nd Aug '13

<blockquote><b>Quoting Intrepid Detective Munch:</b>" <blockquote><b>Quoting ChristinaLynne:</b>" I don't know your answer but I have a question. ... [snip!] ... it sit each sem. Before u finish school whatever you have left pay back to your lender. Then if u had an emergency it's there."</blockquote>




We don't sign anything. It's sitting on his account as available but I wasn't sure if it will stay there if he doesn't take it soon



Eta you do like promissory notes after you accept it but that's it

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44071 posts
24th Aug '13

<blockquote><b>Quoting ChristinaLynne:</b>" <blockquote><b>Quoting Intrepid Detective Munch:</b>" <blockquote><b>Quoting ... [snip!] ... sure if it will stay there if he doesn't take it soon Eta you do like promissory notes after you accept it but that's it"</blockquote>



That's weird. They don't automatically send him a refund check with whatever was overpaid in his acct? He Should hve Had to sign something accepting his student loans. They can't give loans with a written agreement.

ChristinaLynne 3 kids; Pancake, TX, United States 29607 posts
24th Aug '13

<blockquote><b>Quoting Intrepid Detective Munch:</b>" <blockquote><b>Quoting ChristinaLynne:</b>" <blockquote><b>Quoting Intrepid ... [snip!] ... in his acct? He Should hve Had to sign something accepting his student loans. They can't give loans with a written agreement."</blockquote>



It's written online, you hit accept and then go through a process like when you apply or a credit card online. Then you do your counseling and promissory notes. And he was able to except them yesterday even though the semester started. The financial aid people said you can accept it any time in the semester it just takes 1-2 weeks to process



We get our refunds on a discover card and he will get his in sept because they hold it for the first 30 days of your first semester