If you get a package of loan+aid. could you then just pay the loan part straight away. Forum

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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rachelql

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If you get a package of loan+aid. could you then just pay the loan part straight away.

Post by rachelql » Sat Jul 11, 2015 11:44 am

As in, could you just pay a lump sum for the loan (still pay that part of tuition)

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LawsRUs

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Re: If you get a package of loan+aid. could you then just pay the loan part straight away.

Post by LawsRUs » Sat Jul 11, 2015 11:59 am

Sure

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A. Nony Mouse

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Re: If you get a package of loan+aid. could you then just pay the loan part straight away.

Post by A. Nony Mouse » Sat Jul 11, 2015 12:03 pm

Or you can decline the loan.

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LawsRUs

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Re: If you get a package of loan+aid. could you then just pay the loan part straight away.

Post by LawsRUs » Sat Jul 11, 2015 12:09 pm

A. Nony Mouse wrote:Or you can decline the loan.
This is better because of loan origination fees.

CanadianWolf

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Re: If you get a package of loan+aid. could you then just pay the loan part straight away.

Post by CanadianWolf » Sat Jul 11, 2015 12:10 pm

First, be sure that you fully disclosed all assets & income on the financial aid application as declining need based aid might prompt an inquiry from the financial aid office (for an updated financial aid application, for example). Doubtful, but possible.

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