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School loan

I need to take a summer math course at a different school than the one I am going a student at. I applied for a loan a few weeks back, I would have had plenty of time to get it back, but I hadnt heard anything about it so I called to ask what was going on. They said that I had not completed it. So I had to go back and redo it all. This is fine - BUT I am wondering if, if I do not get it back in time to register for this class, but I got it, what happens to that money ? If I get it past registration is needed, and I dont get into this class - am I still going to have to pay this money back ? Or can I cancel the loan after recieving it ? I am also wondering this because they are saying they may not hold the class because it doesnt look like there may be enough people to hold it.

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Asked by Anonymous at 2:51 PM on May. 17, 2009 in Money & Work

Answers (4)
  • I'm not sure about this. I have always just used FAFSA and the financial aid goes directly to my college. If I have extra, they have reimbursed or credited me.

    Answer by Anonymous at 3:21 PM on May. 17, 2009

  • Yeah that's what I have always done at the school I attend - but the summer class is at a different school and they said they can't accept my financial aid there because I am not a student and I either have to pay cash or get a loan. I definitely do not have the cash - it's almost $700.

    Answer by Anonymous at 3:23 PM on May. 17, 2009

  • Did you try the financial aid office?

    Answer by rkoloms at 3:41 PM on May. 17, 2009

  • Get a hold of the school and see if you can make payments. They might charge you a fee (usually between $25 and $50) for you to make payments. But that would make sure that you can get into the class. When and if you do get the loan, you can pay the whole thing at once. And if you don't, the payments will probably be small enough that you can pay for them by selling plasma a few times a month, or getting a part time job for a month.

    If that doesn't work, the next time you get student loans, you can pay it off.


    Answer by Erica_Smerica at 10:18 PM on May. 17, 2009

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