How soon after accepting Financial Aid do I get the money?

Question

I was awarded a grant and offered approx. $7500 in federal student loans. The grant alone will be enough to cover tuition and most of my books. I will register for my classes in a couple weeks, at which time I will receive a "bill" for the total cost of everything. My question is, when and how do I receive my aid? Classes start Aug. 25, so i assume I will receive the money sometime between receiving my bill & starting class. My concern is - I wont be living on campus, but will be moving closer to school & need some of my loan money to pay the 1st month rent/deposit, etc. I really want to get in to this particular apartment when it becomes available, which will be in mid-June. How will i know if I will have the funds available to do this? Besides that, there are other expenses I need to take care of before Aug. I have been trying to get ahold of my advisor, the financial aid office, etc. and no one can seem to call me back!! I am so lost! Can anyone help me??

Answer 1

Generally you do not receive your financial aid until at least the first day of classes (Aug. 25).  Some schools will disburse a bit early, but schools cannot disburse more than ten days prior to the first day of classes.  I have even known a few schools who do not disburse the financial aid funds until the tenth day of class....so the answer is, it depends on the school.  

Since you're having a hard time getting a hold of them, try going on their web site and emailing the financial aid offce.  That won't be an instant answer, but someone will get back to you.

Good luck!