A student’s journey through college can come with a lot of expenses. That’s why students are allowed to access refund checks to pay for some of these expenses. As a result, getting hands on a loan refund check becomes very important for many students as the semester begins. Here are some things you should know about when it comes to getting a refund check.
A refund from a college is a result of having more total funding on your account than the actual balance due. Funding on your account comes from a combination of sources including, financial aid, scholarships, student loans, and cash payments.
Getting a student loan refund check follows specific steps:
All your paperwork is late:
If you waited until the last minute to file your FAFSA and/or apply for student loans, anticipate that your refund check will not be available until later in the semester. Talk to your financial aid office to find out the turn around time. If they cannot give you a specific date, try to find a range, like sometime during the month of October. If you are really late, the refund may take until November, or possibly until the end of the semester.