<p>Heya,
I'm living at home and paying for my tuition with loans. I didn't get any grants or gift money...
The website says I'll get my loan money on Sept. 20th, but we have to pay for tuition on the 15th...does this mean I have to pay out of my pocket then they'll reimburse me on the 20th?</p>
<p>I called in and they said that they automatically credit my loan money towards it on the 15th and I shouldn't worry about it - I just wanted to confirm this instead of finding out I'm wrong the day after we're supposed to pay and being screwed.</p>
<p>I was worried too Jsol92! But I checked my Growl today and my loan has been posted.
This is my first year so I have been very nervous, reading and rereading the studentloan.gov website to make sure I didn’t miss a thing. But after today, I’m very happy! When did you submit all your paperwork?</p>
<p>I was going to dorm but I’m not anymore (they accepted my cancellation) so I’m waiting for my financial aid to be reset to living with parents. Until then, I haven’t submitted any paperwork for my loan :(</p>
<p>If you are borrowing from a private lender the university will credit your account when it receives the funds. If you are borrowing from the federal government (Perkins/Stafford/Parent Plus) the university will credit your account a few days after you have completed the necessary steps.</p>
<p>My GROWL account says that my PLUS Parent loan is “pending approval by the U.S. Department of Education”. But I got a letter from the loan people saying my parents passed the credit check and everything. Do these things just take a while to transfer over?</p>
<p>Yes, it takes a short period of time for the government to contact the university and transfer the funds. If you completed all the necessary paper work and was approved then you do not have to worry about not being credited, it is just a matter of time. I speak from experience.</p>
<p>Great, thank you. I have filled out me MPN and the loan application so I should be good on that front. I just don’t wanna miss the September 15th deadline.</p>
<p>Hilligan, How much did you borrow under the parent plus loan?
Also, if you want to avoid some of the interest from certain loans, the deferred payment plan may be the way to go. You just pay the school in monthly installments.</p>