How does the Federal Stafford Student loan work?
Is a check sent to me or does all the money go to my school? I’m just curious how it is supposed to work….
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The school must “certify” the loan – ie, confirm that you are enrolled and that tuition costs the amount you applied for….then the lender sends the money to the school. The school applies the money to the account, and when that’s finished they send any leftover to you. Depending on the school, this can take a long time.
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The school receives the loan money, applies it to your tuition and fees, and sends the excess to you.
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