Accepting Multiple Student Loans?

[Bella091]

My fiancé and I are accepted to the same medical school, but I’m also accepted to two other schools that we would prefer to go to. I’ve been paying all of the deposits for all three schools in hopes that he gets pulled off the waitlist for one of the better ones. Now I’m getting financial aid packets for all three places that have 60 day deadlines and I don’t know what to do about it. Can I accept the aid from every school and then get refunded for the schools we don’t go to? It doesn’t seem like a good idea to accept $40k+ from three different places at once, but I don’t know what else to do.

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[samac]

When you fill out your fafsa you can put in more than one school code.

 

[Bella091]

When you fill out your fafsa you can put in more than one school code.

Right, and now I’m being offered financial aid from the places that I sent the fafsa too.

 

[TattedMed]

You can accept all the offers and refund them without being penalized....I think....

 

[AlbinoHawk DO]

You should be able to accept all the awards. If you don't attend, that money won't be distributed to you.

 

[TeddyBoomBoom]

You should be able to accept all the awards. If you don't attend, that money won't be distributed to you.

Exactly… If you don’t ultimately attend the school then the funds won’t be disbursed.

 

[kamakazi5]

It's all connected. They don't just pass out tens of thousands of dollars to different schools. Once you enroll in a school and it's verified, then they disburse your loans. This is why they tell you to have some money saved prior to starting. It takes a week or so to verify your enrollment and another delay before you get your funds.

You'll likely be a couple weeks into school before you get any money from loans.