When does loan money come in?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
uwgbluedevil
Posts: 178
Joined: Tue Oct 05, 2010 12:02 pm

When does loan money come in?

Postby uwgbluedevil » Sat Feb 26, 2011 8:05 pm

I have heard that loan checks often come in after school starts. Where does that leave people who dont have 600-1500 bucks for books, etc. that they will need when classes start? I should have enough money to cover rent, and things like that for a few months but was unsure about things like books.

Aggiegrad2011
Posts: 1514
Joined: Sat Jun 05, 2010 6:42 pm

Re: When does loan money come in?

Postby Aggiegrad2011 » Sun Feb 27, 2011 5:21 am

uwgbluedevil wrote:I have heard that loan checks often come in after school starts. Where does that leave people who dont have 600-1500 bucks for books, etc. that they will need when classes start? I should have enough money to cover rent, and things like that for a few months but was unsure about things like books.


I asked this question a few days ago.

The answer was a resounding: Credit cards.

User avatar
Ty Webb
Posts: 517
Joined: Mon Nov 23, 2009 10:47 pm

Re: When does loan money come in?

Postby Ty Webb » Sun Feb 27, 2011 5:44 am

Depends on the school, I would guess. Ours was set up through a refund debit card that was actually tied to a legitimate bank account. The money came into our accounts on the first day of school in each semester.

Also, at our school they would float you a $400 "book loan" on your account, so you could buy books at the campus bookstore. This was more expensive than it needed to be, but many students simply bought them on Amazon after they got their loan money, then returned the books at the bookstore. Problem solved. I would say contact your school and see what they say, because it's probably different across the board.

CCs are a good option if you have one and if you're responsible. Added bonus is that you can get cashback/rewards when you use them.




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