Financial Aid >> Loans >> Sub/Unsub/Pell Grants question?
Sub/Unsub/Pell Grants question?
5 posts back to top |
Posted 2 months ago I did get a subsidized loan and unsubsidized loan however I did also qualify for $5300 pell Grant I do not have to pay back. Since I had been approved for the $9500 do I get the funds so I can use it for other issues related to school like having more outside studies to perfect myself? I was told at school that the $5300 has been applied to my tuition, but what about the Loans I had already acquired and had been approved? Someone help me understand. Because what I have is not enough for living costs, books, and as a medical student I wanted to study outside of class to excel. Where does the rest of the money go? Do they apply the Pell Grant and you get the difference off the loan? Someone help, please...
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1 post back to top |
| Posted 2 months ago Nelson, Your sub/and unsub loans are applied to your tuition for school needs ( tuition, books, lab, etc.) your pell grant is also applied to your tuition and those things related to edcational purposes. However, if all tuition and etc. is cover (paid for) by ALL this money then whatever remains left over you will receive the extra money personally to do whatever you want with. I am in the same situation you are and it just depends on how much your tuition cost. I had to take out addditional loans just to have extra money for things I needed to suceed in school. I would sugest you go and talk to your finanacial counselor at your school to find out excatly what is going on with your monies. Hope this help you because it can be confusing if no one explains it to you in a way that you understands. |
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5 posts back to top |
| Posted 2 months ago Thank you Fastweb40592, That means I will have whatever is left on the loans since I have to pay that back and the Grant given to me. Because I wanted to speed up and go to the Community College and do some easy classes like Speech and Basic Computer which is mandatory to have. I figured I can do them on line since I already know those but get my Credits instead of losing more time to enter Medical School. That was my idea since I have to pay for the loans, why spend more time studying stuff I do not need to spend a semester for such classes. I do appreciate your response my friend. What are you taking?
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| Posted 19 days ago What you do with the money when you get it is yours for the choosing, though it is intended for school purposes. One of the best things you can do however, is to reject any extra money you get if you dont need it. The more money you take, the more you have to pay back once you calculate interest. Unfortunatly, since I don't have a job, my loan checks go to rent, but if i could afford it on my own, I would reject that money to stay in as little bit of debt as possible. |
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| Posted 19 days ago I am really confused about how to go about paying off my students loans when i am all done with school this Summer 2010. I have taken out private loans, subsidized loans, unsub. loans and perkins loans. Do I have to consolidate each type onits own? I thought that I could consolidata all of them together except for the private loans. I am really confused. ANd how do I go about doing this? Do I do it right before school ends, or after my 6 months after graduation? Please let me know. I don't want all these bills tossed at me after graduation. I am hopeing to get it all organized before it gets out of control. Thanks. |
