<p>stephennn, I doubt NYU will cut your family a check. If they truly owe your family that amount it will likely be deducted from your next semester’s bill.</p>
<p>^ No that’s not true. I’ve inquired about this from NYU and they said they send you a check home of the amount left over. I asked them specifically that if my bill was $5000.00 and I sent $6,000.00, what will happen to the extra money? And the lady said that they will send you that $1000.00 difference home.</p>
<p>And np stephenn. When did you apply for a private loan and how long did it take for it to get approved? I’m DYING of anxiousness here since mine hasn’t been approved yet! I did the Citiassist Student Loan.</p>
<p>My older sister is a senior in college and she was just talking about this the other day. It’s called a residual check. It’s meant to cover expenses not billed by the university, such as books or rent if you live off-campus. Normally it is money you pay out of pocket for tuition before scholarships become effective or what is left over after any student loans. You can have the remaining balance sent to you or back to the financial institution as payment on the loans if you have any.</p>
<p>Did anyone else have their housing cost disappear on his/her bill?</p>
<p>A loan-related question: My parents and I have decided not to take the Perkins loan I was given. Do I have to officially fill out this application that supposedly exists but I cannot find or does the amount get put into my bill when the office doesn’t get it?</p>
<p>If you have credit on your account, you get a check. It does not roll over.</p>
<p>As for what amount you need to ask for, put a ballpark and then NYU will work with the lender to determine the actual amount. The Stafford loans often won’t come up until later on, after everything has gone through together.</p>
<p>@ya-alim:
ahh I’m so glad I am not alone! I have been a basket case for weeks worrying and running into problem after problem. I’m hoping to get my private loan this week because my cosigner has been out of the country and isnt returning for a few days. But Wells Fargo told me the same thing, that it takes up to 10 days for the loan to process, and by the time we actually go get the loan… thats less than 10 days before the payments due! Ah crazy crazy.</p>
<p>I called NYU FA then HESC then NYU again to make sure my staffords were approved and everyone just gives me the same crap “yeah it will go through dont worry.” why is everyone so nonchalant about everything? Like oh no worries +$50,000 is no big deal, it will all work out. Uhm, no! NYU doesnt do anything for you, its all in our hands to figure out it seems.</p>
<p>But it will all work out because we got into nyu for a reason so we’ll just appreciate it more once we’re there :]] one more month and all the stress of getting it paid for will be gone… and replaced by the stress of actual school… hahah.</p>
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<p>i didn’t apply for a private loan. i did the stafford loans + plus loans. with all of NYU’s estimated charges finalized (and the 800 + 1000 that we pay before we ever attend) it just worked out that we payed too much. my loans were all approved within two weeks.</p>
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<p>hmm, are you insinuating that i’m lying that they owe me? i’ll show you a screen cap of my account balance if that’s the case.</p>
<p>A year ago we were in your shoes. Got the loan, saw the estimated amount in Albert, but I guess I was the only person who didn’t know that you’re supposed to get the loan for the full amount for the school year. I’d only asked for the amount for the fall semester, then saw they applied just 1/2 to fall tuition. So back I went to the lender. They said it’s not normal to get a second Plus loan in the same year, but oh well. Then the lender didn’t pay out cause they thought it was a mistake/duplicate on their part. Plus they’re REALLY SLOW to pay the first year, as they’re making sure it’s all okay. So they didn’t pay out till the first week or so of Sept. I called the Bursar’s Office to let them know everything was signed, approved, etc. They said, well, we might cancel her registration (which I never told D, as that’s the last thing she’d need to hear the first week of class.) But no problem. Took awhile cause they send the checks to us to endorse and then send on to NYU. If things are moving along, they’re not going to cancel; they want your money. Not easy to replace you that fast.</p>
<p>It’s not unusual that they owe you, and they will send a check. If you go along and get loan amounts they suggest, good chance it’s too much. They split the loans 50-50 between semesters, but for Fall semester your deposits are applied, so you could end up with a credit. Not pleasant getting a check that you just paid a 3% fee on for Plus loan. </p>
<p>I didn’t want that to happen again, so I called the lender last week to decrease the loan amount. Since it was already approved by NYU, they said I had to contact the school. The school said to send an email. Hope that works.</p>
<p>The main things now that will cause your total charges to change at this point is if you change your housing, your meal plan, or opt out of health insurance.</p>
<p>yeah, i JUST opted out of NYUs health insurance. i mean, i’m covered by two plans (empire blue shield blue cross and emblem health… thanks dad&stepdad) so the NYU health plan would just be kind of redundant.</p>
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<p>I just got a letter from Citibank saying they want a copy of my SS card, my driver’s license (I don’t have one yet 
so I checked and I can send a copy of my passport) and my cosigners driver’s license. I’m so confused (???). But I JUST want this done! I’m starting to have dreams about getting an email finding out of my loan decision!</p>
<p>And I know what you mean! The FA office treats it like it’s not big deal! I found out recently though that A LOT of the FA advisers are actually work-study students!! But yeah, I just hope everything clears up soon. But don’t worry about not meeting the August 8th deadline for payment. The FA office adviser said that as long as NYU gets your money before the semester starts, it’s all good.</p>
<p>@stephenn</p>
<p>Yeah I will opt out really soon for that stupid SHC plan. I like how NYU sneaks it in. I already HAVE health insurance too. I’ve been going back to my bill to check any other sneaky things NYU did. Found none so far, haha.</p>
<p>work study students?!? are you SERIOUS?! kids are being paid to tell other kids about financial aid issues… wow no wonder… i mean i have had some pretty helpful advisers who were extremely nice on the phone… but come on… thats a bit much. as if they dont have enough of our money to hire real advisers psh.</p>
<p>how do you know the deadline isnt so important?! thats why I’m super freaking out here that my loan won’t be done in time… I would just get a loan for the full amount of my balance rather than paying 50% of fall out of my pocket w/ the deferred payment plan and THEN getting the rest in a loan… its just time being an issue. im just worried of being dropped from my classes because lsp doesnt have many options open now since its so late and i dont want everything all screwed up :/</p>
<p>^ Yeah! I called the FA office once and I ended up reaching Chris Connelly, he’s like the chief of the FA office (not CEO but…manager? According to what he told me) and when I told him that the information that he gave me contradicted what another adviser told me, he said “Oh it must be those work-study students…” so that’s when I knew that the FA office can’t ALWAYS be trusted. I’ve had some nice FA advisers too and I made sure I got their names. Make sure you can talk to Tiffany or Beth (they normally say their names when they pick up). IF you get a guy, make sure it’s not the guy named Gary!</p>
<p>Haha look at me, I’m going crazy -__-</p>
<p>But yeah, I’m worried about my loan. Time is an issue as well!</p>
<p>^ hahaha okay wonderful I will definitely ask for those people! Ugh this morning was a nightmare with the bursar! I was unaware that lenders for stafford loans charge an origination fee [one thing after another coming to my attention last minute, i swear nyu is trying to torture me!]. So I asked to be transfered to a loan advisor then was directed to… i dont even know… refunds office? idiots. and THEN this asian guy who I could barely even understand starts calculating the fee and my balance and gets the entire thing wrong, giving me an estimate off by $2000! Ugh I’m sorry I am not racist what so ever… but its very very aggravating when they have people dealing with loan issues who you cant understand and dont let u say a word and just cut you off!</p>
<p>okay sorry im done just needed to vent on that… haha.</p>
<p>but was it you that said about a page back that you were going to take the health plan for fall and opt out next semester? I forgot but was meaning to tell you that once you accept it for fall, you have to do it the full year. I read that somewhere on the site. And also… I found out that although its about $470 for fall, it goes up to $780 for spring/summer. so be aware of that cuz they dont exactly warn you of that.</p>
<p>Okay, this is a stupid question. I probably won’t need the PLUS loan for fall semester, but I took out the full amount that it was estimated I would need. So now what? That’s like $8000 in loans for fall semester that I won’t need because of cheaper housing plus out of pocket money that I’m paying…I’m confused on how this works.</p>
<p>^ Well, did your PLUS loan get approved already? Did NYU certify that you needed it? Because what happens is that the PLUS/Stafford loans get certified by your school to see if you need it. IF it did get certified and approved and you are getting the money, then you’ll most likely be getting an $8,000 check home (to do whatever you want with it O_O)</p>
<p>Good luck…? lol</p>
<p>Lol! Yay low-cost housing without air conditioning and savings from working wayyy too much. My PLUS loan was approved. So was my Stafford loan. My current balance, according to Albert is -$2020. I recalculated and realized I’ll actually need about $2000 of the PLUS loan I’m being offered. So if I send a check in for whatever amount, and NYU certifies how much of the Stafford/PLUS loan I need, and it turns out that I don’t need $6000 of the PLUS loan, then how am I getting $6000 in the mail?? That’s still a loan, right? I’d rather only take out $2000 of the PLUS loan, if that’s all I need. Basically I’ll get a $6000 check home but be $8000 in debt?! I hope I’m still very confused and not correct at all :O</p>
<p>lol @ everyone who was surprised there’s work study students in the fin aid office.</p>
<p>when you call admissions, you’re talking to an admissions ambassador, aka someone my age.</p>
<p>Is Sallie Mae one of the better lenders to choose from? Additionally, which lendor easily accepts not-so-great-credit co-signers? </p>
<p>(ah, I know these questions are ridiculous, but I’m completely clueless.)</p>
<p>ikatfabric, even though your PLUS loan has been approved and certified by NYU, it won’t be funded for at least several more weeks. So send NYU Financial Aid an email to change the loan amount to whatever you want right away. They’ll decrease the amount. I did that last week and they already changed the loan amount.
You could just get the $6,000 check and send it to the lender to pay off some of the loan, but you’ll have paid a 3% fee on it (unless you’ve gotten a different deal). Why spend the $180 when all it takes is an email. Make sure you give the ID number (NXXXXXXXX). The email should come from the parent who is named as the borrower.</p>