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Author Topic: I have no idea what I'm doing.  (Read 3754 times)

JuanTwoThree

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I have no idea what I'm doing.
« on: July 16, 2007, 09:53:43 PM »
I applied for loans through some online service a few weeks ago but I don't know whats going on there. I've asked some people at the school what to do but I am so lost. I've never had to get loans for anything before.

I just get a bill saying I have to pay a lot of money in 1 month and I have no idea what to do.

What do I do?

bamf

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Re: I have no idea what I'm doing.
« Reply #1 on: July 17, 2007, 12:32:26 PM »
if you applied for a loan online the company should be sending you Master Promissory Notes (some places make them available online in pdf format, so check to see if you have an online account with the lender).  There are separate MPNs for Stafford and Grad PLUS loans, you will need to sign both.  Then, from what I gather, the lender contacts your school to make sure you are eligible for the funding you requested.  The school says yes he is, they tell the lender when the disbursement date should be and that is about it.  After that I believe the school gives you the money that is intended for non-tuition expenses.
Correct me if I'm wrong about any of this stuff, I was in roughly the same place about 2 weeks ago.
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Jen2bJD

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Re: I have no idea what I'm doing.
« Reply #2 on: July 17, 2007, 02:11:46 PM »
I'm glad other people admit they don't know what they are doing regarding all this financial aid stuff, too.

I just got my acceptance letter from Pitt Law last week, so I feel like I am behind the curve. I did my Fafsa in March, and now I THINK I am waiting to hear from my school about what loans I am eligible for (?). Or at least hear from them about something. My school financial aid department already e-mailed me telling me the cost of attendance and referring me to their financial aid webpage. But shouldn't they send me something that talks about MY personal financial situation?
 

Since I'm not sure, I e-mailed the financial aid deparment at Pitt.

Man I am lost. Good times.  8)

bamf

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Re: I have no idea what I'm doing.
« Reply #3 on: July 17, 2007, 04:13:14 PM »
But shouldn't they send me something that talks about MY personal financial situation?
 

yeah, they should send you a financial aid offer ... even if it only consists of loans.  They should tell you how much Stafford funding you qualify for.  If you don't get this soon you should call them and ask.  But if you got offers from other schools that included stafford eligibility it will probably be the same from Pitt (barring any crazy scholarship).
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Around from time to time.  Always willing to answer any Qs about BC, my '06/'07 cycle or law school in general ... PMs work better ...

Forget Money, Read a Book

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Re: I have no idea what I'm doing.
« Reply #4 on: July 17, 2007, 05:05:50 PM »
I'm glad other people admit they don't know what they are doing regarding all this financial aid stuff, too.

I just got my acceptance letter from Pitt Law last week, so I feel like I am behind the curve. I did my Fafsa in March, and now I THINK I am waiting to hear from my school about what loans I am eligible for (?). Or at least hear from them about something. My school financial aid department already e-mailed me telling me the cost of attendance and referring me to their financial aid webpage. But shouldn't they send me something that talks about MY personal financial situation?
 

Since I'm not sure, I e-mailed the financial aid deparment at Pitt.

Man I am lost. Good times.  8)

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Jen2bJD

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Re: I have no idea what I'm doing.
« Reply #5 on: July 17, 2007, 06:00:36 PM »
Thanks for the congratulationsm FMRAB. I am SO pumped!

And thanks for the info, and for not making fun of me bamf.  haha :)

Sweetpri

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Re: I have no idea what I'm doing.
« Reply #6 on: July 20, 2007, 08:14:55 AM »
I'm lost too - but only because of my school.  I wanted to go through THE or Nellie Mae for Grad Plus but they are not set up to process grad plus for University of Toledo (whatever that means).  Getting in touch with my school is so difficult so I'm just waiting for now!  At least I got the stafford out of the way! 
Most places will let you sign the MPN online, or just print it out.  It's much easier.
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Leo

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Re: I have no idea what I'm doing.
« Reply #7 on: July 21, 2007, 06:09:07 PM »
Add me to the list of lost people. Can money from Stafford loans only be used for educational expenses? If so, is Gradplus money for personal expenses then?

almostlegal

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Re: I have no idea what I'm doing.
« Reply #8 on: July 21, 2007, 07:31:10 PM »
Graduate plus loans can only apply to tuition.

Stafford loans can be applied to cost of living.

Sweetpri

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Re: I have no idea what I'm doing.
« Reply #9 on: July 22, 2007, 04:22:41 PM »
Graduate plus loans can only apply to tuition.

Stafford loans can be applied to cost of living.

Where did you read that about grad plus loans?  I really thought you could use grad plus for any education-related expenses (rent, textbooks, computer)....
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