fin aid

[cluelessdr]

when is the last day to accept financial aid? my school starts first week of august and i need to take out some loans. I was wondering also, my tuition cost about 78k a year but probably only need about 30k in loans. am i able to do that? im confused on how this all works. I just want to take out what i need right?

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[princeafrica]

Only take out what you need. You can always ask for more later in the semester as that money is still available to you up to their estimated cost of attendance. At my school there isn't a "last day to accept financial aid" just a tuition due date and like a 2-3 business days wait for the money to deposit into your bank account if you have direct deposit.

This question is specific to your school so you should ask your financial aid office to get all the details otherwise here we are giving you info based on our own school system

 

[cluelessdr]

Only take out what you need. You can always ask for more later in the semester as that money is still available to you up to their estimated cost of attendance. At my school there isn't a "last day to accept financial aid" just a tuition due date and like a 2-3 business days wait for the money to deposit into your bank account if you have direct deposit.

This question is specific to your school so you should ask your financial aid office to get all the details otherwise here we are giving you info based on our own school system

yeah ive been trying to call/email my school but with covid i dont think they are there lol sucks
but thanks

 

[cluelessdr]

Only take out what you need. You can always ask for more later in the semester as that money is still available to you up to their estimated cost of attendance. At my school there isn't a "last day to accept financial aid" just a tuition due date and like a 2-3 business days wait for the money to deposit into your bank account if you have direct deposit.

This question is specific to your school so you should ask your financial aid office to get all the details otherwise here we are giving you info based on our own school system

also is it like a monthly bill or do we owe all of it up front?

 

[princeafrica]

also is it like a monthly bill or do we owe all of it up front?

Basically how my school does it is for example if they have determined the cost of attendance for that year is $100,000. They give $50,000 in loans for each semester. If my tuition + fees for semester 1 total $25,000, they apply the $50,000 to my student account first and then deposit the remaining $25,000 in my bank account for other costs associated w/ living/attendance (ex. rent). They do this against during the second semester and deposit the rest into my account.

But lets say I only accept $70,000. I can accept just $70,000 but the other $30,000 is still available to me if I email the financial aid office. This process might look different for each school tho

 

[ForgottenDreams]

1. Find out when your registration dates are. This is the window that your school will probably require you to 'pay' your tuition and check to see if you have the funds for registration. These are the dates you most likely need to accept your financial aid by. Search "[dental school's name] 2020 registration dates."

2. The loans that you accept will require paperwork as well. If it is a federal loan, you will be required to sign a 'master promissory note.' This will take additional days to process so do not accept your loans last minute.

3. You need to talk to your school to see how they disburse your loans. My school will split the amount I want into 2 (I have 2 registration dates). So for me if I need 30k one semester and 20k during second semester, and I borrow '50k.' This amount would actually split in half and I would get 25k/25k. If it's complicated like this, you need to talk to your school's financial aid department.