Requesting Additional Loan Amount Questions

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Requesting Additional Loan Amount Questions

Postby mform85 » Thu Jul 11, 2013 6:42 pm

Hello, I attend school online at the University of Phoenix. I recently started my second year of classes this Summer and have been approved for federal loans and a full pell grant. When I renewed my FAFSA for the current year, I made a mistake and only requested $9,500 instead of the $10,500 maximum for the year. So I went ahead and requested the additional $1,000 because I need it for some expenses relating to school. I was just curious if my funds I was already approved of would be disbursed on the date I was provided to me without any issues. The way it was explained to me is that I will receive the original amounts I was approved for on the dates provided (July 15, 2013 roughly). I was confused as to if I would receive the original amounts as planned and then receive the additional $1,000 requested on my account after it was approved or not, or would I have to wait to be approved for the extra $1,000, thus delaying when my funds all together until they are disbursed to my school account. Any help in clearing up this manner would be greatly appreciated! Thank you. :D
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Re: Requesting Additional Loan Amount Questions

Postby edvadmin » Tue Aug 13, 2013 1:58 pm

It depends on when you made the request for the additional money. The closer it is to the disbursement date the more likely you will have an additional disbursment after the disbursement date. If you completed the request with enough lead time before the disbursement date you will only receive on disbursement with the additional money included.
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