XOXO

Negative balance most likely means that you will be receiving a check in that amount. That's what I did for law school - I took out more than what I needed for tuition, so I could cover my living expenses. So, usually, my online statement would list the tuition, the loans, and the remaining negative balance is the amount you receive that goes beyond the tuition cost.

Stafford loan comes in two types- subsidized and unsubsidized. Subsidized is a no-interest loan while you are in school, whereas, with an unsubsidized loan, you're interest starts accumulating the moment the check is cashed. I don't remember what the limits are, but usually you can't get your whole tuition as unsubsidized, so the rest goes under a subsidized stafford loan.

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Posted by jenny2penny

thanks.....so I wonder why I have both given? I don't need both I what the no-interest one. This is so frustrating that I have to call and call and leave messages and no one returns them

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I have almost always gotten both. The non interest one is usually much smaller , and helps a little and the the one with interest is the rest. YOu have to be very lucky to get a completly subsidized loan. It sounds normal , and you will be fine. You will end up getting a final bill once the loans pay...but stafford loans pay in ( usually ) 2-3 payments...so at the begining on the semester they pay some, then middle, then end. Then at the end, if there is a balance left and no tuition left, they mail you the rest in a check ( it usually comes right from the school, but not always). That money is yours since you were approved the full amount of the loan, but your paying it back obviously. I used to love when mine came right before Christmas, even though I knew I should send it right back to pay off the loans, I never did.

ets- not sure if I explained right, that a completly interest free loan is usually only offered to very low income students. I think I got it my first year ( first time I applied) and that was it.