What is the loan/grant process?
View your credit file based on any of the UK credit reference agencies, or all three at once
LifeLock is the only Identity Theft Prevention Solution backed by a one-million dollar guarantee!Click here to get a 10% discount.
If I applied for a student loan and did the FAFSA at the same time, which will be used first? The loan or the grant?
I mean more specifically, If I qualify for a grant and it is not enough to cover my tuition, does that mean all of my grant goes to tuition and then I get the rest needed on a loan?
Why I am asking is because I want to be sure I will be given money back/left over amount in order to buy books, pay for internet access, etc.
How can I be sure I will get money back? Do most grants/loans go over your required amount just to be sure you have enough? I have heard a lot that people get "extra" money. I'm afraid that my school is going to keep all of my money and I will have only enough to buy their books and nothing left over. :-\
What is the loan/grant process?It depends on the type of loan that you apply for. If the you only get the student loan, then you get the refund. But, if you get the parent plus loan, then your parents will get the refund. It the grants and loans together cover your tuition, then you will get a refund. Depending on how much you take for your loans. If you are still a dependent then you won't get as much for your loans unless you talk to your financial aid department and up the loans to the max amount. If you are an independent student then you automatically get the max amount for the student loans. Be careful with upping your loans though, because you will have to pay them all back. You will know how much you get back when you get your bill, it will show a credit on it (your loans, grants, and scholarships) and it will also show how much your tuition is. If you get any back it will show as a credit.
More Related Questions and Answers ...
The loan information post by website user , we not guarantee correctness.