I’m transferring to a new college in the spring, but my previous school has still added the federal loans I receive to their billing.
I have already received an award packet from my intended school, and they have also given me federal loans.
my question is since my previous institution has billed me is there a chance they owe me money?
This is too confusing. Why are you getting billed from two schools, you are not enrolled in two schools are you? And schools don’t ‘bill’ loans, they award them as part of your package.
Please repost your question, trying to improve clarity, in the financial aid forum, where there are more people who can answer:
http://talk.collegeconfidential.com/financial-aid-scholarships/
It’s difficult to be clear and concise when I myself do not know all of the facts about this particular situation. It is also difficult to be clear without explaining an entire past financial history with this my previous institution. I will just call the financial services office at the college and ask them personally.
If you are not attending the old school in the spring, and you have properly withdrawn, there are no charges for the spring semester and no loans going to be disbursed from that school. Only your new school will issue you the financial aid package.
Yes, definitely call your old school ASAP and get oral and written clarification so you aren’t being billed after you have fully and finally withdrawn and transferred from them to you new school. Be sure to keep track of whom you speak to–their full name, position and contact information and get things IN WRITING from your old school–emails and letters.
If I understand you correctly, Old College has already billed you for the spring semester and rolled your federal loans into the bill. New College has packaged you for financial aid with federal loans included. You want to know if Old College will have to pay you back the student loans they have already ‘charged’ you for.
The answer is no - the bill at this point is changeable, since your Old College likely has an add/drop/withdraw period during which you can withdraw from the school and pay no penalty. But if you already know that you are transferring to a new college in the spring, you need to contact Old College ASAP and withdraw, then enroll in New College. This is to prevent a delay to your federal loans, since they go to your college on your behalf.
Did you withdraw from the first school?
It sounds like your current school is showing loan money for spring semester. since you won’t be going to that school, you won’t get that money…that loan will cancel. That is why you’re able to get the loan at your new school. You can’t get both.
Make sure that your current school knows that you’re not attending for Spring.
I completed all the paperwork necessary to withdraw from my old school.
The scenario juillet explained is more or less correct.
Upon checking the bill portal my school provides online it states I now have a credit.
Very confused but I will of course call when they are back in office because even after I had withdrawn I was given the financial aid package with outside scholarships that I receive and my loans still included in my package.
but I’ve been withdrawn for almost three weeks now, but nothing has really changed. Only my bill states I have a “credit” so I am unsure if that’s the money they actually owe.
Sometimes the different departments don’t talk to each other. You want to make sure the outside scholarships follow you to the new school. Everything else should cancel out once your withdrawal info gets to the financial aid office