Verified answer

Make sure your books are included because they are not at my daughter's school. Also dont for get to include any fees like loan fees, parking, lab etc. Also dorm if dorming.

It seems you have over 9000 left so you accepted way too much financial aid for some reason that you do not need. If that is correct you should have denied the unsubsidized loan as you did not need that and you should have lessened the Stafford by a couple thousand. Now dont go and buy stuff with your leftover money. Get whatever your need for school and then save the rest to use next year and then accept less next year because of that. You have to pay the Stafford and Unsub loan back and the unsub one the interest starts whenyou are in college so you do not want to have huge monthly payments when you graduate that you will not afford it and ruin your credit. The average amount students have to pay back after 4 years is 25,00. Just this year yours is about 16000 alone.e I know a lady who did that and she is in her late 30s still paying hers off and cant even afford anything else and they live in a small apt trying to get by with these huge loan payments plus trying to have a life with a family and those costs. Dont make the same mistake.

Federal aid is given by semester so you will get half your pell and half your other loans for each semester. It gets deposited in your college account for the semester. The college will take out their charges for the semester for tuition, books and room and board if you are dorming and then any left over is refunded to you. Each college refunds different. My daughters colleges uses a debit card. Look on your college website usuallyit will say the refund polciy they have.

Pell grant has to be 5500 not 55,500 thats impossible. Adding all the totals = 24494 not sure about the Stanford loan what is that? Typically its subsidized and unsibsidized. But assuming your getting exactly these totals your refund amount if books are included in tuition would be 9494.00 However do keep in mind that all those totals are spanned out over semesters you do not get all that money at one time its broken into quarters or semesters however your college dose it and so breaking that up you would get an average refund of 3164 a term.

Question is what your schools policy is on this many traditional colleges will not refund the money to the student instead they return it to the government you typically half to request the disbursement. And as for a bank account you would half to ask your school mine provides an option of check disbursement or debit card disbursement you could get the debit card but if you chose check its possible you may half to open an account.

I think for Pell you meant 5500. So let's see. 15k for the year. Your loans and grants are roughly 15k, not including the 9500 dollar loan. Give 600-ish for books, I'd say, so you'd have like 8900 left. You'll get a check in the mail unless you are able to set up direct deposit to a bank account. Although, I would use the remainder to pay back a loan and get it out of the way right now, so you have less to pay back later. Hope it helps!

wow, you're going to take out $19,000 annually in loans? do you realize how huge of an amount that is?