Due Dates and Disbursement Dates

[caninus]

First question:
If the first part of your tuition is due on July 11th (UOP is the school), and your lenders won't disburse the funds till 1-2 weeks after the enrolment date, what to do? If you have to come up with your own money (in other words: borrow from a friend) will the school be able to still certify those loans and refund you those funds? In other words, if your whole one year tuition is 80 K and you borrow 20K from your friend (to pay the part of the tuition that is actually due before your loans quick in), will the school still certify 80K for your loans or they will now certify for only 60K (80-20)?

Second question:
Does anyone have experience with CanHelp loans? Are they willing to disburse the full amount before your enrolment date or they are also disbursing in 4 or 2 instalments like, for example, Sallie Mae?

Thanks everyone for sharing your experience on this matter.

---

Members don't see this ad.

 

[PashaJ]

I can't say that I'm speaking from experience but I'll tell you what I think: as long as you're approved for those loans UOP won't require you to pay the 20k.

 

[agutier3]

caninus-

Hi! I too am not absolutely sure about the financial aid situation at UOP. I'm sure that when UOP 1st years get the financial aid packet, we will all be able to understand this very confusing aspect of the dental school experience.

However from my understanding, UOP will not require you to pay anything until financial aid has kicked in. The only thing that was required to pay ASAP is the dental kit deposit of $2000. The $8000 or so left over for the dental kit can be deferred (with the deferment form).

Now for tuition...... Tuition will be paid by federal loans, and the difference will be payed by alternative loans through banks that have been screened and offered to you by the financial aid office.

Now to get to some of your questions: I believe that any kind of funds that you receive for your cost of attendance will be applied to your account. So if you borrow from a friend 20 thousand, you cannot then charge the school for reimbursment. Instead, they will then cut your financial aid package down to the difference (60 thousand in your example). You will have to work repayment of the 20 thousand with your friend (not the school or government).

I could be wrong, anyone want to agree or disagree? My suggestion is to wait for the financial aid packet. If you still have any questions or doubts....call them. Good luck and see you in July!