Is there any regulation on the distribution of Federal Student Financial Aid? The school I attend sits on the dispersement for up to 30 days after the term starts before they will release the balance to the students. No doubt making interest on money I am already paying interest on but have not yet received.
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I believe the longest time is 30 days, so technically the school is not in violation.
i’ve never heard of that where i go we know pretty much after it goes through which is befor school starts and i never heard of having to pay it back unless you were on probation and violated probation
god i just went through this bull. technically once the funds are distributed, they are supposed to cut a check within 10 to 14 days. but then they will tell you that once the check is cut, it can take up to 48 hours to be mailed. then they will tell you that it can take 10-14 days depending on the US mail system. and u will wear yourself out trying to fight with them. just be grateful u finally got the money, i was at a point i wasnt sure i would. i guess like any business, they always look out for themselves first.
You are lucky to get it within 30 days. Some schools (usually tech schools with very high drop out rates) will dole the money out to you monthly. For example, your refund check is suppose to be 400 dollars…. but instead of giving all 400 to you at the beginning of the semester, they issue you 100 dollar checks every month for 4 months as long as you stay enrolled.
Stay Positive!!! You will get you money!