when is aid disbursed?

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loblaw016
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when is aid disbursed?

Postby loblaw016 » Mon Apr 02, 2012 8:02 am

more specifically, does financial aid come in time to help with first month's rent?

dudders
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Re: when is aid disbursed?

Postby dudders » Mon Apr 02, 2012 8:34 am

No. Check with your school, but aid typically comes just as or after the semester starts.

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vpintz
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Re: when is aid disbursed?

Postby vpintz » Wed Apr 04, 2012 11:49 am

dudders wrote:No. Check with your school, but aid typically comes just as or after the semester starts.

This. I know my lawl skool warns in advance that loans will not be disbursed until the first week of classes, and to plan ahead for any expenses.

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Cupidity
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Re: when is aid disbursed?

Postby Cupidity » Wed Apr 04, 2012 11:56 am

Generally comes in the first week of classes. Although for one friend at a TTT, it comes at the end of add/drop, which is well into September.

If you haven't maxed out your undergrad loans, you should consider taking out some extra money now and saving it for your first month's rent. (assuming you can't save the money or borrow it from a family member.)

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loblaw016
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Re: when is aid disbursed?

Postby loblaw016 » Wed Apr 04, 2012 12:09 pm

Cupidity wrote:Generally comes in the first week of classes. Although for one friend at a TTT, it comes at the end of add/drop, which is well into September.

If you haven't maxed out your undergrad loans, you should consider taking out some extra money now and saving it for your first month's rent. (assuming you can't save the money or borrow it from a family member.)


i'm 2 years out of undergrad, just wondering how to plan my expenses over the summer. i'm trying to pay my car payments through the school year so that i won't have to worry about that expense. is it possible to reserve an apartment this early in advance without putting the deposit down until like august/move-in time? or do most landlords want that up front?

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vpintz
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Re: when is aid disbursed?

Postby vpintz » Wed Apr 04, 2012 12:12 pm

loblaw016 wrote:
Cupidity wrote:Generally comes in the first week of classes. Although for one friend at a TTT, it comes at the end of add/drop, which is well into September.

If you haven't maxed out your undergrad loans, you should consider taking out some extra money now and saving it for your first month's rent. (assuming you can't save the money or borrow it from a family member.)


i'm 2 years out of undergrad, just wondering how to plan my expenses over the summer. i'm trying to pay my car payments through the school year so that i won't have to worry about that expense. is it possible to reserve an apartment this early in advance without putting the deposit down until like august/move-in time? or do most landlords want that up front?

Yeah, most landlords are going to want/need yr deposit right when you apply/sign the lease. In addition, most landlords will not hold an apartment for you for that long. I only need a few weeks (so I can finish UG. graduate, etc., then move) and a lot of places told me that they couldn't/wouldn't hold a place for more than a couple of weeks.

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loblaw016
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Re: when is aid disbursed?

Postby loblaw016 » Wed Apr 04, 2012 12:24 pm

vpintz wrote:Yeah, most landlords are going to want/need yr deposit right when you apply/sign the lease. In addition, most landlords will not hold an apartment for you for that long. I only need a few weeks (so I can finish UG. graduate, etc., then move) and a lot of places told me that they couldn't/wouldn't hold a place for more than a couple of weeks.


thanks, that's good to know. i guess i'll just hold off a few car payments and save more for the deposit now

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vpintz
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Re: when is aid disbursed?

Postby vpintz » Wed Apr 04, 2012 12:26 pm

loblaw016 wrote:
vpintz wrote:Yeah, most landlords are going to want/need yr deposit right when you apply/sign the lease. In addition, most landlords will not hold an apartment for you for that long. I only need a few weeks (like, 7-8 weeks) (so I can finish UG. graduate, etc., then move) and a lot of places told me that they couldn't/wouldn't hold a place for more than a couple of weeks.


thanks, that's good to know. i guess i'll just hold off a few car payments and save more for the deposit now

No problem! Hope everything works out for you. Also, if you're planning on living in a student-y area (close to campus, where lots of other students live, etc) I'm sure that landlords who mainly rent out to students will understand the loan issue.

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Dato
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Re: when is aid disbursed?

Postby Dato » Fri Apr 20, 2012 2:58 pm

.
Last edited by Dato on Fri Feb 08, 2013 3:39 pm, edited 1 time in total.

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rinkrat19
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Re: when is aid disbursed?

Postby rinkrat19 » Fri Apr 20, 2012 3:03 pm

Dato wrote:All my award letters say I'm "eligible for 20,500 of direct federal loans" and then that i'm "eligible for xx,xxx of gradPLUS loans." i filled out fafsa and needaccess back in february, which im assuming is how they can make those statements. my question is... how do i get these loans? i know its a total noob question, but i had a full ride for undergrad plus a stipend so i was lucky to never have to deal with federal aid. where do i go from here?
Your school's financial aid office should contact you with the next steps. There will be some promissory notes to sign, and I think an online class about loans and debt. The school gets your loan money from the government, and then disburses it to you (minus tuition and fees) around the time classes start.

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Ludo!
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Re: when is aid disbursed?

Postby Ludo! » Fri Apr 20, 2012 3:03 pm

Not sure how your school does it but at mine you will get login access to some sort of school website for financial aid. Mine is a site where you register for classes, check grades, do financial aid stuff etc. I assume most schools have something similar. When you get that it will show you how much aid is being offered and then you click to accept or decline each loan offer, either in full or partially.

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TTTLS
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Re: when is aid disbursed?

Postby TTTLS » Fri Apr 27, 2012 4:12 am

vpintz wrote:
dudders wrote:No. Check with your school, but aid typically comes just as or after the semester starts.

This. I know my lawl skool warns in advance that loans will not be disbursed until the first week of classes, and to plan ahead for any expenses.
I absolutely hate this. Some schools don't warn you. Luckily I planned for summer, but some of my classmates were unpleasantly surprised.

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vpintz
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Re: when is aid disbursed?

Postby vpintz » Fri Apr 27, 2012 7:39 am

TTTLS wrote:
vpintz wrote:
dudders wrote:No. Check with your school, but aid typically comes just as or after the semester starts.

This. I know my lawl skool warns in advance that loans will not be disbursed until the first week of classes, and to plan ahead for any expenses.
I absolutely hate this. Some schools don't warn you. Luckily I planned for summer, but some of my classmates were unpleasantly surprised.

All of this. I knew in advance, and was warned, so I was definitely able to plan in advance, but I'm sure a lot of people ignore the warnings, get screwed, and then whine about it endlessly for like six months.

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fingerscrossedxx
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Re: when is aid disbursed?

Postby fingerscrossedxx » Wed May 02, 2012 4:29 pm

vpintz wrote:
TTTLS wrote:
vpintz wrote:
dudders wrote:No. Check with your school, but aid typically comes just as or after the semester starts.

This. I know my lawl skool warns in advance that loans will not be disbursed until the first week of classes, and to plan ahead for any expenses.
I absolutely hate this. Some schools don't warn you. Luckily I planned for summer, but some of my classmates were unpleasantly surprised.

All of this. I knew in advance, and was warned, so I was definitely able to plan in advance, but I'm sure a lot of people ignore the warnings, get screwed, and then whine about it endlessly for like six months.


Does this apply to private loans as well? I spoke to the bank today and they said they release the money to the school within a few weeks of you signing off on the loan (which for me is June). Is the issue getting the money sent to you from the school?

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tstyler98
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Re: when is aid disbursed?

Postby tstyler98 » Sun May 06, 2012 8:06 am

vpintz wrote:
loblaw016 wrote:
Cupidity wrote:Generally comes in the first week of classes. Although for one friend at a TTT, it comes at the end of add/drop, which is well into September.

If you haven't maxed out your undergrad loans, you should consider taking out some extra money now and saving it for your first month's rent. (assuming you can't save the money or borrow it from a family member.)


i'm 2 years out of undergrad, just wondering how to plan my expenses over the summer. i'm trying to pay my car payments through the school year so that i won't have to worry about that expense. is it possible to reserve an apartment this early in advance without putting the deposit down until like august/move-in time? or do most landlords want that up front?

Yeah, most landlords are going to want/need yr deposit right when you apply/sign the lease. In addition, most landlords will not hold an apartment for you for that long. I only need a few weeks (so I can finish UG. graduate, etc., then move) and a lot of places told me that they couldn't/wouldn't hold a place for more than a couple of weeks.


You might want to contact the place you're hoping to live. I know the apartments here that cater to students end up with wait lists, so if you wait too long, you won't get an apartment. So, check with them and see what the process is for reserving an apartment or getting on a wait list.




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