If I have been approved for a federal grant, do I need a loan in order to recieve the grant money?
blah asked:
in order for the grant to pay what it says it will, do I need to get a loan? or can I just pay the rest of the tuition how does the grant payment process work? the website is very unclear. please help. Thx.
Thanx but wasnt really asking about how to get a loan.
in order for the grant to pay what it says it will, do I need to get a loan? or can I just pay the rest of the tuition how does the grant payment process work? the website is very unclear. please help. Thx.
Thanx but wasnt really asking about how to get a loan.
No - you don’t need a loan - they just figure how much of a grant you can get - If you get the loan - and choose not to use all the money - let them know beforehand (the loan company) that you don’t need that much money..
So - the school is just figuring how much they think you will need for school - so, they give you so much grant - and tell you how much of a loan you CAN get if you need it.
Only in rare circumstances will a loan be tied to a grant requiring you to take out both. If this was the case it would have been explained to you in detail. Double check with your aid office to be sure. You don’t mention what type of grant or loan you have so it is going to be hard for us to tell. If it is a Pell grant and a Stafford loan, then NO, you do not have to take the loan to get the grant.