leftover money from Student loans,?
Question by He’s the King to my Queen: leftover money from Student loans,?
If my tuition is 14,000 and i take out a loan for 18,000.. will the extra 4,000 come to me, or would it go back to Sallie mae as ‘leftover’ and if it were to come back to me, how long would it take for it to come back to me, and would it be a check from the school, or Sallie mae (loan company)
Answer by CoachT
It comes to you about 3 weeks after school starts (a little longer for first semester freshmen) most often from the school. We call it “financial aid Christmas”.
Different schools refund different ways. Many write you a check while some have special debit card accounts.
Just remember, that’s part of your loan balance and you have to pay it back one day.
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