You are allowed to borrow up to the Cost of Attendance, which is determined by the Financial Aid Office. However, you do not have to borrow the full amount, you can choose to borrow a lesser amount.
Is there money left after tuition is paid?
Yes! If you borrow the full amount you will have money for books & supplies, room & board, transportation and personal/misc.
When do I get money after tuition has been paid?
Federal loan refund checks are distributed by the Business Office tentatively on the 1st Friday of start of the 10 week courses.
How is tuition paid from financial aid?
At registration students are required to pay their tuition UNLESS they are receiving financial aid. Anticipated financial aid is applied to the account and when the financial aid money is disbursed to the school the funds are applied to the student’s accounts and tuition is deducted before the student receives the money.
Can I borrow more money for electives?
NO! Federal loans are only available for classes required by the college.
Can I return money to the lender if I don’t need all of it?
YES! If you don’t want to keep all of the financial aid funds contact the Financial Aid Office and we can get the money back to the lender for you.
When should I consolidate my student loans?
The ideal time to consolidate is during the grace period. The Department of Education as of July 1, 2006 has set a fixed interest rate on all Federal Stafford Loans at 6.8%. Consolidation is an option; however, once the borrower consolidates repayment begins immediately.
