Questions about Federal Loans for Living Expenses Forum

[cutecarmel]

In college, I only took out loans to pay tuition, so the loan money went straight to my student account. In law school, I'll be taking out loans for living expenses, so I have a few questions.

How long after your FAFSA is processed did it take for your law school to send you an award letter?

Will the loan be given to me as a check? Will it all come together or will it be paid in monthly installments? and How long after the school year starts can I expect the loan to come in?

Also, its slightly off topic, but how did you all going about getting your previous loans deferred? I thought it would be done automatically, but it wasn't and I had the loan agency send me a deferral form. Do I have to send it to my school to have it them fill it out and submit it, or is there an easier way?

Thanks

[cinephile]

You get a refund check from your school normally after the semester starts. We have to request our refund online, it doesn't happen automatically. Then there's the processing time ... I think normally about two weeks after classes begin.

My student loans deferred automatically, but it never hurts to fill out the forms and/or call them to make sure.

[cutecarmel]

Thanks!

Does anyone know if the refund comes all together, or is it divided up monthly?

[cinephile]

It's per semester.

[cutecarmel]

Thank you so much!

[tstyler98]

In college, I only took out loans to pay tuition, so the loan money went straight to my student account. In law school, I'll be taking out loans for living expenses, so I have a few questions.

How long after your FAFSA is processed did it take for your law school to send you an award letter?

Will the loan be given to me as a check? Will it all come together or will it be paid in monthly installments? and How long after the school year starts can I expect the loan to come in?

Also, its slightly off topic, but how did you all going about getting your previous loans deferred? I thought it would be done automatically, but it wasn't and I had the loan agency send me a deferral form. Do I have to send it to my school to have it them fill it out and submit it, or is there an easier way?

Thanks

Each school probably does it differently. At Wake, the 1Ls received their loan reimbursement check in their orientation packet. The 2Ls and 3Ls got it within a few days after classes start. It was processed automatically, but we had to pick it up by a certain date.

You will get half disbursed at the beginning of the Fall semester and the other half disbursed at the beginning of the Spring semester. Whatever is left after paying tuition and other fees will be reimbursed to you.

Also, make sure to allocate money for the summer as you can't get loan money during the summer unless you take classes.

[dowu]

Can anyone name an instance in which one's student loans were not deferred upon enrollement to law school?

Also, at what point can you apply for deferring your loans? (Once you're accepted? Once you apply? Once you start classes? etc...)

[cutecarmel]

Can anyone name an instance in which one's student loans were not deferred upon enrollment to law school?

Also, at what point can you apply for deferring your loans? (Once you're accepted? Once you apply? Once you start classes? etc...)

Its possible that my student loans were not automatically deferred because I graduated in the Fall. I think if I would have graduated in the Spring, it would have been done automatically because I would have been graduating and enrolling at the same time.

The loan company says I only need proof of enrollment from my law school, I just don't know how to do that.

[westie25]

The loan company says I only need proof of enrollment from my law school, I just don't know how to do that.

You just need to get a certified letter from the registrar. It works the same for undergrad deferment for loans. The school usually does not automatically notify your previous loan companies re: enrollment, and your loan company would not have any idea you're in school unless you tell them. Most loan companies (especially if they're federal loans) have the forms on their website, and most schools have the in-school deferment request steps on their website as well.

Hope that helps you out!

Edited to add: Also, if there is a break between graduation and law school enrollment (more than 6 months if you're straight out of undergrad & immediately if your loans are already in deferment) your loans will go into repayment. You can request a forbearance until you get your law school to provide you with the certified deferment paper for your loan company. Most schools will not fill this out until you're actually enrolled and taking classes.

[westie25]

Can anyone name an instance in which one's student loans were not deferred upon enrollement to law school?

Also, at what point can you apply for deferring your loans? (Once you're accepted? Once you apply? Once you start classes? etc...)

Loans will not be deferred automatically. You will need to personally request this from your loan company. But, I've never heard of a deferment being denied while someone was in school.

Check with your loan lender and your law school. Most lenders will not defer loans until you are enrolled & taking classes.

Also, remember that loan repayment begins 6 months after graduation & immediately if you already have them in deferment. If there is a gap between graduation & law school (for instance, you graduated in Spring & are attending in the Fall), your loans will not usually go into repayment. But, you must notify your lender yourself.

[cutecarmel]

Thanks everyone!

For future reference:

I contacted my school. They will fill out the deferment form, but only after the school year has started (I guess to make sure you are actually going there). So since I graduated more than 6 months before I will start law school, I guess I will have to get a forbearance or something to hold off repayment until my school will sign my deferment form.