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Author Topic: When do you get Loan $$  (Read 1239 times)

premieraw

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When do you get Loan $$
« on: January 31, 2008, 11:56:08 PM »
So im curious, i'm going to need my loan funds to move into a new place..When can i expect to start recieving the funds in order to place a security deposit and the like at my potential place of residence? Assume i'm getting only federal loans, possibly a little GradPlus..Thanks guys..
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Tetris

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Re: When do you get Loan $$
« Reply #1 on: February 01, 2008, 05:41:38 PM »
I'm curious as well! You should move this to the soon-to-be 1L thread instead of the Financial Aid one. This place is deserted.
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Hammerstein

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Re: When do you get Loan $$
« Reply #2 on: February 11, 2008, 09:45:15 AM »
I think Federal Loans and GradPLUS are disbursed directly to the school and then once tuition and university fees are paid, the rest is mailed out to you.  So, in other words, I'm pretty sure you'll need another, probably private loan to pay for the other expenses (if you absolutely must borrow money for them). 

Talk to your financial aid office -- they might have a particular loan for this kind of situation.  There are ones for buying laptops, I know, for example.
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Clayton

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Re: When do you get Loan $$
« Reply #3 on: February 13, 2008, 01:46:14 AM »
Get a job and save up enough money to cover these initial expenses... or just get a credit card that's no interest and let the amount "float" until your loan money arrives.

I would suggest the first option.

Hammerstein

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Re: When do you get Loan $$
« Reply #4 on: February 13, 2008, 08:54:50 AM »
Get a job and save up enough money to cover these initial expenses... or just get a credit card that's no interest and let the amount "float" until your loan money arrives.

I would suggest the first option.

The first response is undoubtedly the best.  Why go into any more debt before you've even started class?
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