How do I get loan money?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
Ferrisjso
still learning numbers
Posts: 2003
Joined: Wed Oct 22, 2014 5:40 pm

How do I get loan money?

Postby Ferrisjso » Sat May 20, 2017 6:18 am

Just got apartment for LS and am going to need loan money to pay the rent in the fall. I have no idea how I'm supposed to receive my loan money. I know it's probably a stupid question that will be answered when I go to school but I'd like a little piece of mind because I already signed the lease.

User avatar
A. Nony Mouse
Posts: 28475
Joined: Tue Sep 25, 2012 11:51 am

Re: How do I get loan money?

Postby A. Nony Mouse » Sat May 20, 2017 7:46 am

You will get sent information about how to arrange all this from your school (you get sent the loan amounts you're eligible for and you accept up to the total amount), and it will get deposited in yout bank account usually the week before or the first week of classes.

uhwrestler
Posts: 279
Joined: Thu Oct 22, 2015 11:44 pm

Re: How do I get loan money?

Postby uhwrestler » Sat May 20, 2017 8:19 am

apply for fafsa and have it sent to the school you are attending
then the school you are attending will give you the loan offer
Last edited by uhwrestler on Sun May 21, 2017 7:11 pm, edited 2 times in total.

User avatar
Ferrisjso
still learning numbers
Posts: 2003
Joined: Wed Oct 22, 2014 5:40 pm

Re: How do I get loan money?

Postby Ferrisjso » Sat May 20, 2017 8:24 am

Thanks!

goldenbear2020
Posts: 594
Joined: Wed Aug 17, 2016 11:47 pm

Re: How do I get loan money?

Postby goldenbear2020 » Sun May 21, 2017 6:48 pm

How did you get a lease signed without the loan papers to show the landlord?

User avatar
jlc058
Posts: 111
Joined: Tue Jul 26, 2016 12:38 pm

Re: How do I get loan money?

Postby jlc058 » Mon May 22, 2017 4:06 pm

A. Nony Mouse wrote:You will get sent information about how to arrange all this from your school (you get sent the loan amounts you're eligible for and you accept up to the total amount), and it will get deposited in yout bank account usually the week before or the first week of classes.


This may also be a stupid question but how do you pay tuition by the deadline if you don't get your loans disbursed until a week before/or week of first classes- I'm assuming most people don't have 50k laying around

User avatar
A. Nony Mouse
Posts: 28475
Joined: Tue Sep 25, 2012 11:51 am

Re: How do I get loan money?

Postby A. Nony Mouse » Mon May 22, 2017 4:39 pm

jlc058 wrote:
A. Nony Mouse wrote:You will get sent information about how to arrange all this from your school (you get sent the loan amounts you're eligible for and you accept up to the total amount), and it will get deposited in yout bank account usually the week before or the first week of classes.


This may also be a stupid question but how do you pay tuition by the deadline if you don't get your loans disbursed until a week before/or week of first classes- I'm assuming most people don't have 50k laying around

Tuition isn't due till then. Basically it goes into your school account and they take out tuition and then what's left goes into your bank account.




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 2 guests