Hi folks! A quick question- I am taking out a small private loan to help cover some of my expenses. In order to get this loan, I need to send in a copy of my tuition invoice. I don't know exactly if this is something we've already gotten, or will be getting, or what. I have plenty of forms with the tuition amount on them, but it sort of sounds like I need an actual bill or something that proves that I've enrolled and intend to pay tuition. Has anyone else ever needed one of these, and if so, what did you use? Thanks!
Call the FinAid office, they handle all of the coordination with loan providers.
I tried that, but this loan is being disbursed directly to me, rather than through the school, and they said they weren't exactly sure what it was I needed. If it helps, it's a MyRichUncle loan. Has anyone gotten one of these? In order to secure the loan, I need to provide either a "tuition invoice" OR my class schedule, so it seems they're mostly looking for something that proves I'm enrolled/committed to enrolling.
Technically, you aren't allowed to get any loans if they will take you over the budget set by the school, so they won't help you at all if that's what you're trying to do. If they find out that you got a loan that wasn't certified by the school, they're required to cut your other loans to bring you back down to the budget amount.
Ummm...that's not good. I thought if you took out private loans, it was basically none of their business. I mean, people do do this, right? I wouldn't have any way of affording school if I couldn't take out over the budget to cover moving expenses, having to break my lease, paying off my car, etc. So that sort of sucks.
Anyone else have any insight on this? And here's a question: what if I just turn down all the loans I was planning on taking out through the school, and wrap that amount into my private loan? Then I could take out as much as I needed, right?
I don't get why they'd screw you like this though, they have to know that some people need to take out over the school budget in order to cover certain expenses, even if they wouldn't increase the budget for those expenses.
if you take out a private loan that is an educational loan, it IS the school's business. any educational private loan will require communication between the school and the lender and will be limited to your budget minus any other aid you are getting. IF, instead, for some reason, you are taking out a non-educational private loan, say a personal loan, then yes in that case it would have nothing to do with the school and would be none of their business. I have never heard of anyone doing that, but I imagine that it is done by people who need to do it. but yeah if you are dealing just with education loans you are a slave to the school budget. hope that helps.