Federal student loan refund help!?
I registered for summer classes at my school and I got a federal loan to pay for my classes. I had to drop my classes but I got a refund to my account will I receive the money or will it go back to the government. I know the school cant keep the money.
That’s not an easy question to answer based on the information provided.
Normally, schools will wait 3 weeks to certify and receive the money. then they will cut a check or direct deposit within 15 days of the reception of funds. If you received a refund to your account, it is up to the determination of the college as to how to handle the funds. If they process the funds as you were a student and you left after the first few weeks, you may owe them money and they may still send you a check as an overage. Or they may take their money and send the funds back.
It would be up to the determination of the Financial Aid Administrator of your school.
