Grad Plus Question

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Gunz353
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Grad Plus Question

Postby Gunz353 » Sun Jun 13, 2010 9:49 pm

I have been seeing alot of posts about Grad Plus and people discussing how they were approved or denied. My school told me that i can't even attempt to file until July 1st. Is this just a weird policy of my school? Did anyone elses school give them a date they had to wait until?

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kalvano
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Re: Grad Plus Question

Postby kalvano » Sun Jun 13, 2010 9:57 pm

No. That's weird.

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Gunz353
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Re: Grad Plus Question

Postby Gunz353 » Mon Jun 14, 2010 3:33 am

Anyone else?

Sparkz1920
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Re: Grad Plus Question

Postby Sparkz1920 » Mon Jun 14, 2010 10:02 am

Yes it is being as tho I was approved in May. Far as I know u can apply anytime for additional funds. Apply online and then have your info sent to the schools. I Also signed my promissory note

finn17
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Re: Grad Plus Question

Postby finn17 » Mon Jun 14, 2010 10:15 am

The new law regarding student loans kicks in this summer. If you apply now, you will be getting a loan from a private bank under the old arrangement. If you wait until your school instructs you to apply, you will have the protections of the new law and will be getting a loan directly from the government.

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webbylu87
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Re: Grad Plus Question

Postby webbylu87 » Mon Jun 14, 2010 10:58 am

finn17 wrote:The new law regarding student loans kicks in this summer. If you apply now, you will be getting a loan from a private bank under the old arrangement. If you wait until your school instructs you to apply, you will have the protections of the new law and will be getting a loan directly from the government.


Source? I'd be interested in hearing someone else confirm this.

wreckem
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Re: Grad Plus Question

Postby wreckem » Mon Jun 14, 2010 7:51 pm

webbylu87 wrote:
finn17 wrote:The new law regarding student loans kicks in this summer. If you apply now, you will be getting a loan from a private bank under the old arrangement. If you wait until your school instructs you to apply, you will have the protections of the new law and will be getting a loan directly from the government.


Source? I'd be interested in hearing someone else confirm this.


He's wrong. Its about disbursement not application. All loan Plus/Stafford loans will be through the government no matter when you apply for them.

You can go ahead and apply now, the Gov will approve or deny you, either way your school still has to approve it and most schools don't do that until after July 1.

I got my letter from Department of Ed stating I was approved, though you know automatically when you apply but they send you a letter. In the letter they said they approved me but my school still had to approve it.

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ozarkhack
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Re: Grad Plus Question

Postby ozarkhack » Mon Jun 14, 2010 7:55 pm

I wasn't able to formally accept my loans from Davis until today. Which apparently was the step needed before I could apply for the PLUS credit check.

EDIT: To recognize today is far off from July 1 and that Davis won't process my loan stuff until end of this month, at earliest.




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