Loan question

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bbman4606

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I have been awarded a financial aid package by one school, but I am still waiting to hear on waitlists at 2 other schools. Does anyone know...

1) If I accept the award, and get accepted somewhere else that I choose to attend, what would happen to the money? Am I locked in at that point (after I accept the award)?

2) My first payment (about 11k) is due by the first week in July. If I approve that payment (through loans) is that money refundable should I get into another school? It may depend on the school but I was just wondering if anyone had any experience.

I tried searching but was unsuccessful, if anyone can direct me to a thread it'd be appreciated.

Thanks in advance for your responses.
 
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