Financial aid question from newbie

[TXDO]

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HI GUYS,

I am new to the loan applying process, so can anyone tell me what are the next steps after I already applied FAFSA and got the SAR report? Lastly, when I accept the loans as it is the check which I keep and pay to school or is it automatically paid? Since I want to get some loan money to buy textbooks and other stuffs.

Thanks guys

 

[TMP-SMX]

You wait for your financial aid to send out the financial aid packages or for you to send in more information. Send an email to your FA office.

As for loan disbursements, the lender will send a check/electronically send money to your school where all of the tuition and fees are removed automatically. Then once that is paid in full you get a check/direct deposit to your bank account of the remaining funds.

Keep in mind that some schools delay when you get your first disbursement and you are going to be low on cash. The best advice is to use a credit card in order to make purchases and pay them off in full when your disbursement comes through. That way you don't pay any interest on the purchases.