Receiving Financial Aid

[brob311]

How soon will we receive our financial aid checks when we get to Ross?

[Neuro3]

If you are lucky you will receive it during registration. If not hopefully you will get it before the end of the semester. If that is the case the school is pretty good about giving advances until you get your check.

[McGillGrad]

...If that is the case the school is pretty good about giving advances until you get your check.

That makes little sense, since they have the cash if they are giving people advances...but interest is interest, I guess.

[Neuro3]

They dont always have the money from sallie mae. Usually its do to them being late certifying your financial aid. If the check is on the way they will give an advance.

[orgoman]

speaking of financial aid, are most of you taking the federal graduate plus* loan or the sallie mai for the bulk of ur entire loan? Whats the major diff between the two?

[ydobon]

I'll be taking the Fed's PLUS loan. The only thing I'm deciding is what bank to take it through. Some want a 3% origination fee but give a 10 year deferral, at 8.25% compound interest.

Others offer 7.9%, hold 3% for six months, and take a 1% default fee. That plan offers six months grace.

Others vary. Shoot me a private message, or we can move this over to a different topic area for more frank discussion.

[smashweasel]

I just found this link
http://finaid.org/loans/biglenders.phtml
You can click on any of the links to get a little info on all of the banks and what they offer. Hope it helps.