Who do you contact if you’ve already accepted more loan money than you need?
A) Financial advisor
B) Loan officer
C) Loan servicer
D) School’s financial aid office
Answer:
The School’s financial aid office is the correct entity to contact if you’ve accepted more loan money than needed, as they handle the distribution and potential return of surplus funds.
Explanation:
If you have accepted more loan money than you need for school, the correct point of contact is D) School’s financial aid office. This is because, once the financial aid is applied to your tuition and fees, the school’s financial aid office is responsible for disbursing the remaining funds to you. If you find that you’ve received excess funds, the school’s financial aid office can guide you through the process of returning the surplus amount. Additionally, it is crucial to remember to maintain satisfactory academic progress to keep your eligibility for financial aid. Don’t forget to complete a FAFSA (®) form each year to apply for financial aid, which assists in determining your eligibility for various types of aid, including grants, loans, and work-study programs.
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