Anyone in clinicals get their refund yet?

[TBL2008]

That basically sums it up. Anyone in clinicals get their financial aid refund for the summer 2008 semester yet? I've spoken with several people (all of whom have signed and returned their first set of checks many days ago) and no one has a refund yet...

I assume you basic science people would've rioted if there was no money at registration.

[Macgyver1]

mine was here a few days ago. woo hoo!

[DRDRWMD]

I as well as a few other students are still waiting as well. I am sure it will arrive in the mail shortly.

[FOID]

it takes a while. once it took 6 weeks to get my refund check.

[DRDRWMD]

it takes a while. once it took 6 weeks to get my refund check.And I wonder who collects the interest on those funds for 6 weeks?:rolleyes:

[ds_in_tx]

it takes a while. once it took 6 weeks to get my refund check.

Gosh! I think would take them to small claims court!

On second thought, you couldn't even take them to small claims court! It's too much money! What was their excuse for that?

[dilzmega]

so do they direct deposit funds into your account or do they mail you a check. Do you get money before your rotations start. This would be hard if your in a city with no type of family I would think.

[ds_in_tx]

so do they direct deposit funds into your account or do they mail you a check. Do you get money before your rotations start. This would be hard if your in a city with no type of family I would think.

The short answer is that there is no direct deposit and you most certainly do not get money before rotations start.

Words of advice: you are solely responsible for getting your money on time (or at all). IF YOU ARE IN ANY DOUBT, CALL AUC AND YOUR LENDERS. Update your address frequently, with all relevant AUC departments (clinicals, financial aid, student accounting, etc.). Federal regulations state that money cannot be disbursed from lenders until 10 days before your instruction starts. For basic sciences, this is effectively the first day of the semester. For clinicals, it is the first day of your first rotation of the semester. If you aren't starting until June in a summer semester, you won't be getting money until June, so take that into account.

Here's how the disbursement of financial aid works at AUC:

1. You apply with your FAFSA for federal Stafford loans and for additional funding via Grad PLUS or Sallie Mae private loans (I think all other private lenders are no longer operational for us.). The school will mail you applications that you fill out and return to them. You can also fill out applications for Grad PLUS and Sallie Mae Signature online. This is proably preferrable since you get immediate notification of your credit status.

2. The school will process your paperwork and certify your loans to the various lenders.

3. The school will mail you a document listing the types of loans and amounts of money you have been awarded. THIS IS THE ONLY NOTIFICATION YOU WILL RECEIVE FROM AUC ABOUT THE STATUS OF YOUR LOANS. If it does not say $6,000 unsubsidized, $4,250 subsidized and $17,500 Grad PLUS/Private, something is wrong and you must investigate for yourself.

4. Hopefully, when you arrive on the island for registration you will have three checks waiting for you: two federal Stafford checks and one private loan check. You will sign these and they will give you a refund check right there.

5. At this point you may either attempt to open an account in one of the non-insured local banks (which may have gotten easier since I've been on the island, YMMV) or send your money home. If you want the money to actually get home before the semester is over, you will pay $36 to send it via FedEx.

6. NB: The refund check is drawn on an account from the Bank of Nova Scotia in Canada. A foreign check (at least for the 90% of students who are American). Which means that your US bank may impose an 11 business day hold before clearing the check and making funds available.

7. NB, part two: when you are in clinicals, the whole process in step 4 is completed through the mail and not face-to-face. AUC receives the original checks from your lenders and then mails the loan checks from Miami to whichever address they have on file for you (which might not be where you are actually living at that point). You endorse the checks and then return them (overnight is best; I once sent them registered Priority Mail with tracking and they didn't arrive for 11 days). At some point (at this writing I've been waiting 14 days) after the school receives the signed first checks, they will mail the refund check.

Most of this could be avoided with direct deposit.

[kemper6036]

And I wonder who collects the interest on those funds for 6 weeks?:rolleyes:

i know we all know the answer to this one

[DRDRWMD]

i know we all know the answer to this oneI was being sarcastic. Anyway, I got my check today. It actually arrived quite quickly.