<p>My daughter, a student at Fordham University has a small balance due -- a little over $1K. She recently got a job on campus and wanted to pay off the entire balance in three paychecks.</p>
<p>They told her no. And that she should take out a loan, and THEN if she's denied THEN they'll allow her to pay it off with a payment plan, as I outlined above.</p>
<p>Does this make any sense to you?</p>
<p>To me, it sounds DOWNRIGHT STUPID! And I am wondering what kind of people they have working in FinAid at this school.</p>
<p>Your daughter is asking the school
for a payment plan. They want their full amount due now. They are not being unreasonable. They will only allow a payment plan if your daughter cannot get the amount to pay them in full now. That would be the policy most anywhere.</p>
<p>Can you loan your daughter the money for this, and let her pay you back? That would get the bill taken care of right now so she can register for next term.</p>
<p>Agree with happymom. The school is saying they are not going to be in the position of being a lending institution and they (as will most schools) likely have a policy that states they will prevent her from registering for classes until her bill is paid in full.</p>
<p>I am completely tapped out! That’s why she had to get a job.</p>
<p>I thought that if she got something on campus that there wouldn’t be any problem with giving her a payment plan!</p>
<p>This is ridiculous!! It will take her until just after the start of the new semester to pay it in full. I’ve never seen such stupidity in my entire life!</p>
<p>Most schools make it pretty clear that you pay before you register. Look back to last semester. Interesting how it is a small amount when the school wants it but not an amount you will find a way to loan to your daughter.</p>
<p>Ella, this sounds like an outstanding balance for the CURRENT term. I can’t think of ANY college that will allow a student to register for subsequent terms with an outstanding account balance. Surely you knew about this shortfall prior to this month. </p>
<p>I would suggest your daughter apply for a loan ASAP. Either that, or perhaps someone in your family can loan her this amount and she can pay them from her earnings.</p>
<p>I would also strongly suggest that you make sure you have enough money to pay the spring bill in full.</p>
<p>Just FYI…the account balance amount is not relevant. One of my kids had a $15 parking fine and his registration was put on hold until it was paid.</p>
<p>Maybe your D is at a school that is ultimately too expensive for her if $1000 is too much to come up with - there are unexpected expenses at pretty much every school, even for kids who get financial aid. Is there family or anyone who can lend her the money until she can work to pay them back quickly?</p>
<p>Has she already taken out a Stafford loan?
Have you taken out a PLUS?
Does she qualify for PELL?
I agree it sounds like it is monies due for this current qtr which will be over in a couple weeks.
Im really surprised they have given her this long to pay.</p>
<p>It sounds like the school said they <em>will</em> give her a payment plan if she’s denied a loan. So have her apply for the loan (which will be denied without a co-signer if she’s tapped out on Staffords), show the school that she was denied, and get the payment plan. If by some miracle someone loans her the money, she can pay it back quickly with her job income.</p>
<p>All we can do at this point is to throw as much money at the balance as we can between now and the first day of classes. My daughter will make about $400/week. And she’s pretty much resigned herself to giving ALL of that to the school in order to attend Spring semester.</p>
<p>I still think the entire college financial aid system is a joke and a scam.</p>
<p>Mathmomvt - I was actually online doing just that with her – applying for loans. She’s already been turned down by Sallie Mae. I expect the same from the other banks.</p>
<p>Keep in mind that her paycheck will probably have deductions taken from it, so she may not take home as much as she expects.</p>
<p>I don’t know why you think it’s a scam. Your daughter has been given free money (PELL) toward school at taxpayer expense. Where’s the scam? </p>
<p>Your daughter wants a college education that your family cannot afford, but she only just got a job now? It is not the end of the world if she has to take a semester off to work and save some money, and perhaps that makes sense if Dad cannot be counted upon to pay his share. Good luck!</p>
hmm…</p>