My daughter checked the disbursemnet of her Stafford at NSLDS for last school year and found a loan had been disbursed to another college that she never attended.We called the current servicer of this loan and they said they had no record of it.They suggested calling the current lender.We'll have to wait until Monday to contact the lender.My question is-has anyone else had this problem?Are goofs like this common with Stafford loans?
2007-07-14 12:58:32 · 4 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
It can happen, however the school that received the funds should have seen that she was not in enrolled and sent the funds back. If the servicer shows not record of it, that would be odd. Could it be NSLDS shows a loan guaranteed, but not actually disbursed? You should be able to clear it up quickly. Whoever submitted the information to NSLDS should be able to make the correction.
2007-07-14 13:21:35 · answer #1 · answered by John 3 · 0⤊ 0⤋
Stafford Loans and all students loans are for school-related expenses only. This includes tuition, books, rent, etc... They have several tutorials in the government financial aid website of the do's and dont's with financial aid that you should really go over before taking out any of them.
2016-05-17 22:28:08 · answer #2 · answered by josefina 3 · 0⤊ 0⤋
Usually this happens when students are applying for their loan b/c their college is not associated with direct lending. And, students rarely read what they are applying for and end up sending the loan to the wrong school. I had to tell the student to cancel the loan and reapply.
2007-07-14 16:03:04 · answer #3 · answered by sunshine23511 5 · 0⤊ 0⤋
We're having a Stafford Dilemma. Our son will be a freshman and signed a promissory note and sent it to the lender in one state. 4 weeks later he received another promissory note from another lender in another state. It's a trial to say the least.
2007-07-14 14:44:37 · answer #4 · answered by GrnApl 6 · 0⤊ 0⤋