Complaint / review text:
I was looking for some sort of financial aid handbook to read into my issue when I found this site with individuals who were having the same problem as I was with the financial aid department. I received letters from both the loan corp. And the financial aid office at UoP stating my disbursement dates. There were supposed to be two disbursements. The later one was to come on December 15 to cover the approx. $600 balance on my last class. The disbursement came on time and they did not hesitate to post the money to my account. I was written that any credit was to be sent to me. This is the way it is supposed to work to help with any expenses students may have such as housing.
I got a letter in the mail on December 23 that said amount distributed to student $0.00. I spoke with a financial aid counselor who could not really help me because my own counselor is hardly ever available and no one else can seem to deal with her cases. This fill-in counselor told me that they usually hold any last distribution until 29 days after all courses are completed. This does not sound legal and everything they print says that the credits will be given to the student. If I am taking out loans to fund my education and expenses during school, what is the purpose of holding the money until I am done with school?
I am in week 2 of my last five-week class. I have 3 weeks to go and I need the money that is due to me now, not when they decide they want to give it to me. I am going to call the loan company and get their take on this because it does not seem right. I am also going to call the student aid commission to get further info. It is too bad because I wanted to jump right into my Master program but I will not be doing it at University of Phoenix if I conclude that their practices are not just.