When Do We Receive Loan Check?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
asuusa
Posts: 73
Joined: Mon Jul 12, 2010 10:23 am

When Do We Receive Loan Check?

Postby asuusa » Thu May 12, 2011 11:22 am

This is a dumb question, but when, typically, do we receive our student loan checks? Is it early August, late August, or early September? Does it depend on the school? The reason I'm asking is because I'd like to buy a laptop (at a reasonable price) and get to know it before classes start. I'd also like to go through my books and get a feel for them.

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homestyle28
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Joined: Thu Jun 04, 2009 12:48 pm

Re: When Do We Receive Loan Check?

Postby homestyle28 » Thu May 12, 2011 11:28 am

asuusa wrote:This is a dumb question, but when, typically, do we receive our student loan checks? Is it early August, late August, or early September? Does it depend on the school? The reason I'm asking is because I'd like to buy a laptop (at a reasonable price) and get to know it before classes start. I'd also like to go through my books and get a feel for them.


loan distribution dates are almost always the first day of classes. You'll get the excess after the school process the disbursement, you can probably speed things up by signing up for direct deposit with your schools finaid office. As for buying a laptop, I'd time the purchase so that the credit card bill that has the laptop on it comes due after the first day of classes.

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joemoviebuff
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Joined: Wed Feb 10, 2010 12:51 am

Re: When Do We Receive Loan Check?

Postby joemoviebuff » Thu May 12, 2011 12:05 pm

Or you can just get a new credit card with a 0% APR introductory rate and make minimum payments for a couple months until you get the disbursement.

asuusa
Posts: 73
Joined: Mon Jul 12, 2010 10:23 am

Re: When Do We Receive Loan Check?

Postby asuusa » Thu May 12, 2011 12:44 pm

Thanks so much for your answers. I don't have any credit cards, so I guess I'll have to pick it up through savings. What about assignments that are due the first day of class? How do you get your books?

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aaaaaah
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Joined: Wed Jan 26, 2011 3:20 pm

Re: When Do We Receive Loan Check?

Postby aaaaaah » Thu May 12, 2011 4:48 pm

I think it depends on the school. I noticed a scary piece of info from Fordham's website.

For those of you who will be borrowing for living expenses while in law school, don't forget that loan funds are not disbursed until three days before the start of classes. The refund processs will not begin until several days later and may take a month to complete. Have enough cash on hand to pay for textbooks and your first month's living expenses.

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fatduck
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Re: When Do We Receive Loan Check?

Postby fatduck » Thu May 12, 2011 5:00 pm

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NancyBotwin
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Joined: Wed Jun 10, 2009 5:43 pm

Re: When Do We Receive Loan Check?

Postby NancyBotwin » Sat May 14, 2011 12:54 am

It depends entirely on the school. We got ours a week before classes started. Call the financial aid department and ask, if it isn't posted on their website.




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