<p>Hey all,</p>
<p>Incoming freshman for the Class of 2012 here! Recently, I overheard some other incoming freshmen talking about how they were going to add the expense of a laptop onto their financial aid package. Is this even possible? </p>
<p>Can anyone do this? How does it work, and what are the benefits to adding a laptop expense to your fin aid package?</p>
<p>You have to submit a request to your financial aid office. Keep in mind however, that the cost is added via a LOAN, not a grant, so you'd have to pay it back.</p>
<p>Essentially, you're just delaying paying it back</p>
<p>Not only that, but I think I'm pretty sure that it will be an unsubsidized loan, meaning that it will accrue interest while you are in school.</p>
<p>oh no...hmm, will it be possible to pay off that loan using extra scholarship money?</p>
<p>Also, how does the actual purchase of the laptop work? Do I go to the Cal Computer Store and tell them to take the money out of my financial aid account?</p>
<p>Thanks for your help!</p>
<p>cal sells computers? I believe you'll have to take out an interest-based loan and buy one yourself with the check in the bank. my girlfriend might take out a 5k loan to buy an apple macbook and keep the rest as funds for books and so on.</p>
<p>If you have extra scholarship money, why don't you just use it to buy the computer instead of taking the loan at all?</p>
<p>Regarding your other question, any aid which exceeds tuition, housing, and misc fees will be deposited into your bank account around mid August. Essentially, you would buy the computer out of your own bank account with your financial aid refund.</p>
<p>wow karabear1, you can do that? so if i have scholarship money that exceeds tuition fees, I can get that money back in the form of a refund?</p>
<p>Yeah-- You'll need to sign up for eft in order to get a direct deposit. Otherwise, I think you pick up a check from the financial aid office. Refunds are meant to be spent on books and extra living expenses, so it's not like they're just handing you extra money for the heck of it.</p>
<p>I should add that you do have to report any outside scholarships to the financial aid office. They will decide whether to reduce your loans, grants, or work study based upon the amount of scholarship you receive. Wait until this is worked out before spending your scholarship money, or you might find yourself having to pay some of it back.</p>