Fed Financial
Confused about astrive student loan???
Okay, I sent my signed credit agreement and my co-signer's proof of income in to Astrive the other day. The loan is for $17,000 for the quarter I'm about finish up and the one I'm starting next month. I'm using the money to pay off some bills, acquire a new car and support myself while finishing up the degree. The loan was originally for $6,000. But they told me if I wanted to change the amount to just enter a new amount and initialize th change. So I changed it to 17,000 and initialized it. I'm confused really about the disbursement. Everyone on Yahoo questions says it will be divided up. But Astrive told me I will get the whole loan at once. Can anyone clarify this for me? It's killing me not knowing how to plan out how I manage the funds. Thanks, again. Thx podcast
Public Comments
- Federal student loans are indeed disbursed in pieces throughout the academic year. The Astrive loan is a private student loan and you'll get the whole thing as a check in the mail. Incidentally, did you investigate an auto loan before taking out the Astrive? Last I checked auto loan rates weren't quite as high as private student loan rates. Good luck! Christopher S. Penn, The Financial Aid Podcast On-demand financial aid internet radio, no iPod required http://www.FinancialAidPodcast.com AIM: FinAidPodcast
