My student loans still have not been disbursed. That doesn’t mean that my tuition isn’t due! To delay having to pay tuition until I get my loans, I signed up for the payment plan, a way to pay in monthly installments with no interest charge. (On the other hand, if you pay your tuition late and haven’t signed up for the payment plan, you are charged a percentage in late fees.)
Well, this seemed like a brilliant idea in August. The August due date came and went, and I knew the loans would be coming “some time in September”–the words of someone who works in our financial aid department. I assumed my loans would be disbursed by the September due date or soon after. However, when I was checking my balance online one day, I noticed that my balance was significantly in the hole. That is, I had bounced my checking account by several thousand dollars.
Nicht gut! I realized that I had signed up for direct debit when I signed up for the tuition payment plan. Whoops! I was able to remedy the situation that day, but the incident definitely made me anxious for my loans to arrive!! I am calling financial aid on MONDAY! 🙂