<p>Hello, I just transferred to community college this semester, and I was wondering if it's to late to take out a stafford loan.
I just corrected my FAFSA so my CC can see it.
I am transferring next semester so I want to take this money and deposit so I can cover living expenses. </p>
<p>Any advice would be appreciated</p>
<p>It depends on what the Cost of Attendance is at your community college, and if you don’t have other aid that covers it. But, yes, unless you have other issues that prevent you from getting federal aid, like having dropped courses, not having enough credits, having grades too low, you can take out Stafford loans.</p>
<p>Ok.
I paid the cost of my CC out of pocket.
So I’m guessing I’ll just get the lump sum mailed to me?</p>
<p>No. The way it works is that it is mailed to your college and goes through your college’s financial aid office and then into your student account at the college. Anything you owe the school will be taken out of it. You have to talk to the burser’s office as to what their procedures are in dispensing excess funds, which these will be. Different schools have different ways of handling this. </p>
<p>Though it is the usual case that you can get these funds, individual schools can have their own administrative rules on how they handle these things. You had better talk to the financial aid office, who will be the ones handling your FAFSA, about this and the timing as to when you get this. Then you need to talk to the Burser’s office and find out how they dispense excess funds and the timing of that.</p>
<p>Yeah, it says on the website that they mail any excess funds.
I’ll be heading to the office tomorrow.
Thanks for the help!</p>
<p>Which year’s FAFSA did you submit? if you need a loan for this current year, then you need to submit the earlier year’s FAFSA.</p>
<p>Yeah I talked to FA.
I need to correct my 2012-2013 FAFSA.
He said there would be no problem getting the loan though so all looks good.</p>