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GRFD Scholarship Payment Process???

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  • GRFD Scholarship Payment Process???

    I am a junior and just received a 2 year GRFD scholarship. However, this years tuition has been payed for by student loans which have already been dispersed to my student account. The school year just started. The money from the scholarship should be coming to my school in the next month or two. My question is what will happen to that money when it arrives? Will it just get refunded to me so that I can use it to pay back the loans? Or is it going to be more complicated than that?

    Any input would be great! Thanks.

  • #2
    Re: GRFD Scholarship Payment Process???

    If I'm not mistaken, Federal funds take presidence over student loans. In my own personal experience, what will happen is your Federal funds will come through and there will be an excess of money due to your student loans. Your school's Bursar should then cut you check. What you do with that money (since it's Student Loan money) is up to you.

    Ultimately, I would talk to your school to find out their process.

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    • #3
      Re: GRFD Scholarship Payment Process???

      RyCass is 100% right.

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      • #4
        Re: GRFD Scholarship Payment Process???

        Originally posted by RyCass View Post
        What you do with that money (since it's Student Loan money) is up to you.
        I would hope you'd pay back your student loans immediately. Life is hard when you're on the bad side of compounding interest. Your future self will thank you.

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