Consequences of paying tuition and fee?

Question

I'll be a freshman this fall in a state university, they've sent me a billing letter, deducting all the financial aid from federal and state, I'll have to pay $2500 by myself, what I want to know is that..should I pay it in once by myself instead of borrowing money from the school, if i do that, would the FAFSA and TAP would considered this next term, and give me less money..???? what should I do??

Answer 1

aid is calculated based on the year. For instance if you get a $4000 pell, you get half in fall, half in Spring.  You may not be able to borrow anymore money. The school would usually list that in "awards" presented to you which you would have had to sign and accept. You may still be able to get a unsub. loan but it will NOT be processed in time for school to start. You can still take out a loan but you would not be allowed to attend classes until you either paid the $2500 or your loan came thru and they took it out of that (give that 6-8 weeks).. so , you need to pay the $2500.  As far as it changing next terms award.. it won't..because like I said when they present you with amt you get, it's split into 2 terms. If you only go part time it will affect it.  If you fail a course this sem. it may affect it but i would pay the money