Thread: ****'s tuition plan

What is the dealeo with the the loan $. Is it true that we are only getting a % of our gov. money and that **** is holding the rest until a later date? That is going to hurt a lot of students if the full cost of tuition cannot be paid from loans!

Originally Posted by Craftsman

What is the dealeo with the the loan $. Is it true that we are only getting a % of our gov. money and that **** is holding the rest until a later date? That is going to hurt a lot of students if the full cost of tuition cannot be paid from loans!

the change with the loans is not an auc thing. there are letters posted all over school in the buletin boards that say that this is a new federal govt policy. the deal is this: instead of getting all of your federal loans one semester and all of private loans the next, you split the two and get half federal, half private each semester. in the long run, its the same amount of money. i am not an economics major but i dont see the difference btw this and the old way.

later

Originally Posted by levator

i am not an economics major but i dont see the difference btw this and the old way.

later

It depends. If the government and Sallie Mae (or whomever you get private loans from) disburses all of your loan money simultaneously to the school, yet you only receive half of each, you are paying interest on both loans. The problem is that the school has your remaining tuition $$$ socked away in their account EARNING interest on your borrowed money. Doesn't it seem criminal that they can earn money off of interest made on your borrowed money while you're simultaneously paying interest on it?

I don't know if this is actual fact, just conspiracy theory and speculation on my part. Financial Aid will be on campus in the near future; perhaps we'll all get the low down then.

ALoha,

I know a guy who had the same question- He called sally mae and was told the school receaves all of the sally mae money at once and it is up to the school when to give it out.

federal cash may work differently.

Originally Posted by beach bum

I know a guy who had the same question- He called sally mae and was told the school receaves all of the sally mae money at once and it is up to the school when to give it out.

federal cash may work differently.

Yeah, that would be cool if Sallie Mae would disburse all of my loan money to ME so it can sit in MY bank earning interest for ME which I will have to pay off anyway. Sadly, I believe that Sallie Mae must disburse that loan money to MEIO, and they disburse it as they see fit.

Oh well.

ALoha,

Actually the money is in sallie mae's bank until you sign the loan check. We're not signing a loan check for $23,000 and only receiving half that amount. We will be signing a sallie mae check for ~$14,000 and a gov. check for ~$9250 from here on out every semester assuming you take out the full loan limit amount. Sorry to burst the bubble but there's no "gold statues" conspiracy here.