Ok, just battled with financial aid for an hour--if any of you are not taking out enough loans to cover your entire tuition, e.g. you were expecting scholarships and/or your own contribution to count for some of it, you should know this:When you go to pay your tuition during orientation, there will be a button for "apply financial aid"This ONLY applies grants/loans but NOT scholarships to your tuition. And for whatever portion of your tuition that accounts for, it will take off your amount due.But- the remaining amount, including whatever scholarships you are awarded, you have to pay yourself, because they refuse to apply scholarships towards your tuition. You have to pony up the money and then wait to get paid back a week later when they release the checks. This is why there is the option for the tuition loan or whatever it's called, because they have such an ass-backwards system at UT that I (and I'm guessing many other people) are going to have to take out a short term (the length of a week) loan for the amount of our scholarship money just so our classes don't get dropped.My mentor said she had to do this last year too, and it's a real pain in the ass.
Quote from: Jess427M on August 17, 2006, 03:21:15 PMThat is absolutely ridiculous. It's such a hassle that I'm thinking of not accepting my scholarship since it's not for that much money and I'd rather not have to deal with it.Please tell me you didn't just say that, when there's a whole line of people who received nothing and who'd be ecstatic to jump through a few hoops for some free money. It's unfortunate that they're making it such a pain in the ass - it's either a law school thing or a recent thing, since I didn't experience this hassle with the engineering school back when. At the same time, anyone who experiences this "problem" is, ironically, quite fortunate.
That is absolutely ridiculous. It's such a hassle that I'm thinking of not accepting my scholarship since it's not for that much money and I'd rather not have to deal with it.
Quote from: Deuces Take Em on August 17, 2006, 10:38:52 PMso basically for being an idiot I'm rewarded with less hassle? SWEETignorance is bliss, baby.join the club. i'm in
so basically for being an idiot I'm rewarded with less hassle? SWEETignorance is bliss, baby.
If you aren't getting that much in scholarship, this won't apply to you Jess. This only applies if your other financial aid doesn't cover your tuition.... Since you make it seem that you didn't get that much, then I wouldn't worry about it.
It's just enough that I have to shell out about $750 to the school since I didn't max out my loans for the year. So I can either pay the $750 to the school and get it back in a week or I can change my loans to get a bit more, avoid the entire hassle and then buy a little bit of a nicer car....So tempting, but alas I must do the more fiscally responsible thing. I'm just going to suck it up, pay the school the money and then get it back a week later.
Note, that for car loans, I'd probably still choose to get a loan for the car, since you can typically find someplace to get good interest rates (3% range) on a new car. That's even lower than everything except the Staffor subsidized loan (where the government pays for the interest till you gradaute).