Tuition due before loan disbursement?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
angryseals
Posts: 10
Joined: Wed Apr 07, 2010 11:19 am

Tuition due before loan disbursement?

Postby angryseals » Fri Apr 30, 2010 1:57 pm

I was just reading through NYU's FAQs on their financial aid site, and it appears to leave open the possibility that tuition is due before loans are given out. Apparently, loan disbursement occurs sometime between August and the first week of September, but we have to pay the school before classes start (Sept 1) or there will be some unnamed consequences. I have enough money to make it through the first month or so with food, rent, etc, but I definitely don't have enough money to make a tuition payment while waiting for loan money.

Is there something I'm missing here? The school doesn't actually expect its students to pay for tuition before it gives out loan money, right? Right?

twopoodles
Posts: 107
Joined: Mon Nov 02, 2009 1:42 pm

Re: Tuition due before loan disbursement?

Postby twopoodles » Fri Apr 30, 2010 9:41 pm

This has happened to me in undergrad and the school just waits for the money (what else are they going to do?). I had them add a hefty late fee once but when I pointed out I was waiting for financial aid to arrive they waived it. No big deal.




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