how does that work
2006-09-28 02:16:28 · 7 answers · asked by caron d 2 in Education & Reference ➔ Financial Aid
If you have federal grants or student loans that exceed your tuition and fees, the money will be disbursed to you in October and February. This money can be used to help pay for your living expenses while you are in school. Having said that, it is unusual for grants to exceed your expenses so your sister is probably talking about student loans. When you sign for these loans, remember that you will have to pay this money back. It would be better to take less in student loans and get a part time job to pay your living expenses.
2006-09-28 05:47:13 · answer #1 · answered by Gypsy Girl 7 · 0⤊ 0⤋
If you are attending college and using financial aid, there can be a refund check to you for that portion of the loan not used for tuition. However, recent tax rules say you must report that refund as income on your income tax return. And, you will have to pay that refund back, eventually, as part of the loan's total value plus interest.
2006-09-28 02:26:51 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Maybe if you receive a refund check from financial aid. Whenever you take out loans (or get grants or scholarships) they take out all the tuition fees and then cut you a check for whatever is left over. That's the only thing I can think of.
2006-09-28 02:18:49 · answer #3 · answered by stuckinamoment 3 · 1⤊ 0⤋
It could be that your sister is budgeting money to be given to you on a period of time.
2006-10-01 17:54:06 · answer #4 · answered by dodadz 4 · 0⤊ 0⤋
Go and talk 2 a Finacial Aid Counselor at Ur school...{:-{}.
2006-09-28 02:20:25 · answer #5 · answered by Anonymous · 1⤊ 0⤋
HAVE YOU APPLIED FOR A PELL GRANT OR A STATE GRANT? BEST THING TO DO IS GO TO YOUR FINICIAL AID AND ASK FOR ALL PAPER WORK FOR GRANTS AND SCHOLARSHIPS.
2006-09-28 02:24:24 · answer #6 · answered by baptism_by_fire_2000 6 · 1⤊ 0⤋
unless you are taking out loans it doesn't.
2006-09-28 02:18:18 · answer #7 · answered by simianfever 3 · 1⤊ 0⤋