How to use Student Loan for educational expenses?
Sunday, September 11th, 2011 at
9:33 pm
I’m applying for a student loan from CitiAssist and I believe it will be sent directly to the school. I am borrowing more than the COA – Aid because I can’t afford the books, transportation and food expenses.
So if the money is disbursed to the school, how can I get the extra money to pay off my other expenses?
Tagged with: applying for a student loan • citiassist • extra money • food expenses
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You can’t get any loan in excess of the schools published COA minus any other financial aid you get (other loans, grants, scholarships, etc). Note: the COA is more than just the cost of tuition books and fees. It includes living expenses, meals, transportation as well.
If the bank sends more to them than you are allowed, they’ll probably send it back. If it’s not more than you are allowed they usually cut you a check or deposit into your account. Call your school to be sure.