I recently dropped one of my classes before it began due to some family medical conditions coming up and not being able to devote the time needed for my class. My school requested my student loans to be disbursed a couple of days before the start and then drop of my class. The loan was disbursed on 9/29 and my class was starting on 10/1. They have now been holding onto the funds instead of returning them to the Department of Education or sending them to me. I do not know if this is legal for them to do. I would like them to send them back to the D of E, so I am not accruing interest on them, and the school is not collecting interest on my money sitting in their bank. Is this legal for them to do?
Financial Aid Question... Please help?
- Thread starter Nicole
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