<p>Jason2009- What?? You can use your Flex Max plan to do laundry? Is it true?</p>
<p>If they put your loan on hold, that means you didn’t do something, which would be either the online promissory note (<a href=“https://dlenote.ed.gov/empn/index.jsp[/url]”>https://dlenote.ed.gov/empn/index.jsp</a>) or pre-loan counseling (<a href=“https://www.dl.ed.gov/borrower/CounselingSessions.do?cmd=initializeContext[/url]”>https://www.dl.ed.gov/borrower/CounselingSessions.do?cmd=initializeContext</a>).</p>
<p>Jason; Credit is from both loans and gift aid.</p>
<p>Eminent; The reason why you have so much surplus is because you took our more money than you needed. This quarter, I have to pay about $6.5k, and if you multiply that by 3 quarters, that’s about $19.5k… and you got $22k for the year… so you will have a lot of “surplus” money.</p>
<p>And the Flex max money will be in your UCR ID card… you can use that money for food, laundry, anything at the convenience stores, etc. So… yeah. You can spend that on whatever you likeee.</p>
<p>according to the pamphlet from bear facts</p>
<p>Jenuwin01- Is it possible to get my financial aid revised at this point? I don’t think I took in too much. I probably need to work study of $2500 revised and maybe the loans.</p>
<p>Well, look at how much you will pay for this quarter, then multiply that by 3. That is the MINIMUM amount of money you should have. But… you probably want money to spend… so that surplus money is basically just your allowance. </p>
<p>What are you planning to revise? Well, regardless of what it is, you will have to call in and see. The thing is… there was a deadline for accepting and declining aid, so that could purpose a problem.</p>
<p>On GROWL, whenever it says “Outstanding Balance: $” and it has “<credit>” next to the dollar amount, it means that it will already be taken care of by your TOTAL financial aid. It doesn’t matter whether it’s from gift aid or loans. You’re getting all of this money for your college expenses – some of it is paid back and some may not have to be paid back (gift aid).</credit></p>
<p>They divide the total amount of financial aid by three equal amounts for each quarter. Tuition and other miscellaneous campus fees will be deducted first. Then you will get the surplus back by Direct Deposit or a check in the mail – you can use this for books, transportation, food, shopping spree, whatever. If you’re taking out loans, you’ll be paying it back anyway (with interest).</p>
<p>Since I still have an outstanding balance of $1,414 I’m going to take that out from my loans. I noticed on my current activity it didn’t include the work study amount. Am I supposed to do work study and then pay it myself? Can I do that or will it be too late to pay for tuition til that time? What should I do??</p>
<p>nvm I have like 800 dollars extra for the first quarter…(excluding 100 dollar deposit)</p>
<p>that’s 2400 for the entire year, I guess it would be best for me to pay off a loan. I wanna wait to see if I might need that money though</p>
<p>But then again, I haven’t switched to Flex max, so nvm…</p>
<p>I think it actually will be around 1300 surplus for the year</p>
<p>Hey, will the fees for the next two quarters be lower? I imagine that some costs, like the registration fee, will be a one time thing. And that one’s 300 dollars!</p>
<p>now but they will be no bear facts fee</p>
<p>Well, I want my “surplus” money to only consist of financial aid money and not the loan money because then it’s basically like spending money with a credit card, which I would have to pay back WITH the interest. Do you think it’s possible to only take financial aid money as “surplus”?</p>
<p>well, that would mean that you’ve used the loan for the tuition and such already, so that you end up paying interest and what not anyways. Only way to get rid of it is to pay it off in advance.</p>
<p>So basically, I am going to need to pay interest on the “allowance” money I am going to spend?</p>
<p>No matter what they return to you, you have to pay interest… whether the money is with you or with UCR. What you could do… is pay back the loans that charge interest with your “surplus” money. But that would mean you have no money to spend… So yeah… lol.</p>
<p>I only accepted the loans that did not charge interest, so I don’t have to worry about it. x_x</p>
<p>I guess I’ll have to beg. lol. jk.
That kind of sucks though.</p>
<p>Yep. It’s a little bit weird. The financial aid office – in most cases – will see your financial aid in its entirety. If you got $13000 in gift aid and $10000 in loans, you will be seen as having $23000 in “(total) financial aid.” Because you have these two options, you’re not technically paying “directly” out of your pocket (not everyone has a spare $23000 lying around, you know?); If you were, you obviously wouldn’t have financial aid then and would be paying the tuition fees every quarter.</p>
<p>The only time they would really make a distinction between the two would be when it concerns paying back money for loans. “(Total) Financial aid” takes care of as much tuition, housing, campus fees, etc. as possible because they are solid costs as opposed to books, transportation, etc. because that’s different for everyone. Hence why they give you a “surplus” amount to cover this.</p>
<p>But if you really weren’t bent on paying that much, you could’ve lowered the amount you were offered in loans… but it’s still nice to have that extra. Just be wise with it because you’re paying it back anyway with interest.</p>
<p>EminentFigure:
You pay interest on the total amount of loans. They divide the loans and will bill you monthly for payment, but if you can’t afford to pay the bill you can at least pay off the interest so that you only have to pay back the exact amount you borrowed.</p>
<p>Whiteclock:
Unfortunately, the fees are quarterly. Even registration, because you register for classes every quarter. But the Bear Facts Orientation fee is only a one time thing. But Rec Center, Athletics, KUCR, ASUCR, etc. are quarterly.</p>
<p>If you look at Current Activity on GROWL, you should see the fees that you are charged already. Some of them will say “KUCR FEES FALL” or “HIGHLANDER FEE - FALL.” They will repeat these for Spring/Winter.</p>
<p>I’m guessing if you pay back on a loan ahead of time, say 1000 of the 1500 total, in the first month, the interest afterwards will drop?</p>
<p>If not then that’s super messed up</p>
<p>Hmm. I’ve never paid back a loan ahead of time. Currently I can only afford to pay off interest.</p>
<p>It /should/ drop… It would make more sense. If not, that WOULD be super messed up!</p>
<p>The schools makes this financial aid procedure way too complicated.</p>
<p>its so easy!
u can revise online right now
just click the revised button on ur award
and click the new amount u want
and ok ur done
basic math</p>