Getting Financial Aid Loan/Grant Money Refund?
My total school expenses for this fall are $2,252.00. I received a Stafford Loan for $2,250.00 and a Pell Grant for $2,675.00. My school’s financial aid office automatically accepts grants for us as soon as they’re offered so my entire tuition and fees were basically covered before I accepted the loan. Will I still get a check for the $2,250.00 loan this semester? Are financial aid refunds based on the total amount of aid, or do they do it separately for loans and grants? I was hoping to use the remaining money for food and gas since I’m commuting this year and maybe use the rest for summer courses.
They will add your grant and your loan together then subtract the $2,252. for your expenses and send you a refund of the balance sometime during the semester. When you get this refund depends on when your school sends out refunds. You’ll need to contact your financial aid office and ask them when the refund disbursement date is.
Yupo Chan | UALR Faculty Excellence
