I have a question about my Summer Alternative Loans?

Question

This is my first time to get loans for summer classes, I was rewarded a loan titled: Summer Alternative Loan Elig and was wondering if anyone knew when those were sent out. I've already started summer classes and I'm running low on money, so if anyone has had experience with this type of loan and could tell me when they got thiers, then it would be greatly appreciated:)

Answer 1

I am 99% certain that is a special loan program administered by your school. As such, you won't find much information about it here (or elsewhere online) unless you talk to another student at your school or, better yet, your Financial Aid Office. The terms and conditions of this loan (including the disbursement schedule, which is what you're asking about) will be established by your school alone.

See, the "normal" alternative loan process is this:
1. the student contacts the lender and applies for the loan
2. the school is sent a loan application to certify and either says "yes" or "no" to it.

But, in your case, it sounds like your school offered you this loan themselves. The other factor that leads me to believe that this is a school administered program is the generic name of the award and the word "elig" after it (suggesting that your school has established their own eligibility criteria/loan limit for the program).

If you want to know when your loan will be disbursed, just contact your Financial Aid Office. It's a fair question. In fact, if your classes have already started and you haven't gotten your money yet, there may be a processing delay that you need to resolve.

Answer 2

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