Subsidized loan did not go through, now I owe the school?

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Subsidized loan did not go through, now I owe the school?

Postby katief » Sat Mar 30, 2013 11:04 am

Hi,

I am a new transfer from a comm. college, after getting my Associates, to a 4 year this Spring; thought I had all my financial aid in place, and so the school indicated.

Around Feb., I was told that an "adjustment" had been made to my account, that I was overpaid (refunded), so I paid $566 back to the school. I just got ANOTHER e-mail (3-29-13), saying there has been yet ANOTHER 'adjustment' to my account, and it is dated 01-20-13 (??), and that I now owe an additional $1,058 to the school. So now, my account is showing as 60 days overdue!! OMG.

There is no explanation as to why (just as last time, I will have to call them), but apparently my subsidized loan did not go through. However, I have an UNsub loan and Pell Grant. Why would I not get my SUB loan, I know I qualify (3.96 GPA, financial need)? I called my loan servicer and they could not tell me anything, and said I need to contact the Board of Education and/or my university.

And how many times can the school keep 'adjusting' my account? I am afraid that I will not be able to sign up for classes (pretty soon)until it is paid, and I cannot make payments (not allowed). What the heck is going on? Do universities 'adjust' financial aid whenever and how ever many times they wish? I cannot get anyone at FA to give me a print out or anything, they just say pay or no classes, so I am not really clear on the numbers. Anyone else have this issue or any advice?
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Re: Subsidized loan did not go through, now I owe the school?

Postby Aid Whiz » Mon Apr 01, 2013 8:54 am

I would suggest making an appointment with a financial aid officer to sit down and review your aid package (scheduled, in-person meetings tend to yield better results).
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Re: Subsidized loan did not go through, now I owe the school?

Postby katief » Mon Apr 01, 2013 4:31 pm

Thanks.
Do I have the right to insist on an explanation in writing so I can understand all the moving numbers? There was quite a bit of that before I got my first "adjustment-repayment', and I could not for the life of me figure it out. The guy I spoke with (Eric) on the phone then was extremely condescending and basically told me that I was lucky to have an aid package at all and didn't I think the award was rather large (how would I know?), and sort of intimated that it could be reduced even further if I didn't pay up. I asked him if that was what he was implying, and he said no, of course not. I am an older student, worked for 11 years as a customer service rep, and boy, was it lacking in my coversation with him. I never really got an actual explanation as to why I had to pay back the first 'adjustment'. Just seems like I should have something in writing.
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