My lender overpaid my school and I've gotten two checks. Do I send them back to the lender or what? Keeping the money will add aditional interest to my loan, and I'm not a fan of all that mess. But, I don't know if Wells Fargo would even take it because I don't think I can pay on my loan until I finish school.
2007-09-20 11:47:22 · 5 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Once they realize the mistake, they will probably make you pay the overpayment right away.
Trust me, they will take the check back. I would recommend contacting Wells Fargo and asking what you should do.
My guess is that they will have you send back the overpaid amount.
2007-09-20 11:55:58 · answer #1 · answered by Stupid Flanders 7 · 0⤊ 0⤋
Take both checks back to the financial aid office and discuss it with them. If you cash the checks you will pay interest. If you return the check(s) that you received (if they are Wells Fargo checks) you wont have to pay interest if you werent supposed to get the checks in the first place. My first guess is you are eligible since the financial aid office approved them. Double check to make sure.
2007-09-23 15:53:19 · answer #2 · answered by John 3 · 0⤊ 0⤋
Talk to your schools financial aid department, they will know the process to get them back to the lender and off of your loan. But the extra bit is generally intended for living expenses as it is tough to go to school and work at the same time.
2007-09-20 12:03:05 · answer #3 · answered by CW 2 · 0⤊ 0⤋
you can pay bill buy book get food it checks put 4lk
2007-09-20 12:03:25 · answer #4 · answered by Anonymous · 0⤊ 0⤋
its FEDERAL. once they find out they sent you another check they will make sure you pay them back! so don't spend it!!
2007-09-20 14:55:05 · answer #5 · answered by joan. 3 · 0⤊ 0⤋