using student loans to pay off credit card debt?
Asked by MeggieRMy husband was just pre-approved for a $12,000 subsidized student loan. They still need to check with the university he is attending to verify the loan amount....can the university tell them not to give my husband that much money? Tuition is only about 2,000 dollars. What do you think? Will they just give us the $12,000 he qualified for even though tuition is less? We really need this money to pay off credit card debt..plus he WILL use 2,000 of it for school.
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Answered by Terry J
If you do get that much approved, the previous person is correct, the money goes to school first..Then after they apply it to your bill and maybe a book deferrment they will send you what we in NY call a "refund check"... This usually takes 1-3 months depending on your school, and the best and fastest way to get it is direct deposited to your bank account. I hope he succeeds in everything.
If you do get that much approved, the previous person is correct, the money goes to school first..Then after they apply it to your bill and maybe a book deferrment they will send you what we in NY call a "refund check"... This usually takes 1-3 months depending on your school, and the best and fastest way to get it is direct deposited to your bank account. I hope he succeeds in everything.
