$2000 deposit applied to tuition, factored into loans received?

[crossfit4lyfe]

---

Members do not see this ad.

I am just wondering, the $2000 deposit we put down at a school- is this money deducted off the total loan money you get for tuition for 1st year, or do they still give you the full tuition money as a loan? I hope that makes sense. I ask because a family member lent me the deposit money, since I spent all of mine applying and going to interviews. And I wonder if I will still receive that $2000 in loans so I can pay my family member back? Thanks

 

[s5260205]

I believe so since the financial aid calculated include the full tuition (at least for the schools I checked).

 

[CajunMedic]

You will get the full amount in loans if that's what you take out. I had a 3000 deposit and got the full tuition amount.

 

[dorothyntoto]

You basically get your deposit back in your loans, or so it worked for me and everyone I know...

 

[crossfit4lyfe]

Ok, thanks all

 

[baxt1412]

yay!... now if only I could get paid back for the deposit to the school I won't be going to lol.

 

[crossfit4lyfe]

yay!... now if only I could get paid back for the deposit to the school I won't be going to lol.

haha ouch

 

[baxt1412]

haha ouch

luckily my second school's deposit was 6.6% of the first school's deposit lol.

 

[crossfit4lyfe]

luckily my second school's deposit was 6.6% of the first school's deposit lol.

Based on your previous posts- I am assuming you did a DO deposit then got into an MD school? That is a bummer about the deposit, but congrats! That's awesome!

 

[baxt1412]

Based on your previous posts- I am assuming you did a DO deposit then got into an MD school? That is a bummer about the deposit, but congrats! That's awesome!

yeah, most of all I couldn't turn down saving at a minimum 100k (difference over 4 years of max COA) plus interest and also being close to my family.