I have a question about getting excess Grant and/or Loan money back.

If my classes start in July, and the school told me that my Loan and Grant were both approved (getting 100% Loan plus a $4k Grant) and they must have Tuition paid before I start class.....when would that mean the excess money comes to me?

The Financial Aid Counselor at my school said it would, and I could use it to get a new Computer (I so need one!). Mine is acting up big time and I'm starting to really hope that money comes in soon or this thing won't get me online for class!

When do ya think I'll see the excess money??

quote:

Originally posted by mfamily2004:
When do ya think I'll see the excess money??

Depends on the school. Some issue the refunds at the end of the semester (imo, a totally screwed upway of doing it), others (like ku) within a day and anywhere between. ALso depends if they direct deposit or send out checks.

just remember you have to pay taxes on the excess grant money and any scholarship money. excess loan money, you dont.

Hey good to know! Thank you so much!

My refunds come at the end of the semester. Most of the time, I just roll the money back into the loan so as to reduce the total balance in the end.

But occasionally, it is needed cash.