Private College Student Loan

Does Sallie Mae for student loans make the check to you or the school?

I was wondering because I needed to take about about 500 extra since im taking seven classes and the price of books is going to be extremly expensive. My parents are not helping me out so I need to come up the money on my own. Normally I go with astrive but they have been down for months now.

Public Comments

1. I think they send it to the school and whatever is left the school will mail it to you. When I went through that process with Sallie Mae, there was an option for how you want to receive the extra funds that are left.
2. i believe the government will send the money to the school, if there is any money left over they will give to you..
3. Sallie Mae is a private lender so you can apply for something like the tuition answer loan and they usually respond within 3 business days. The tuition answer loan allows you to borrow the amount you need or if its too much the amount the school usually charges for cost of attendance. So if you are requesting $25000 and the Cost of attendance is only 23000 that's what you get. Depending on how fast you send your information in determines how fast the check will arrive. As soon as I am approved I usually fax all the documents off the next day and I get the check within 3 weeks. Now the loan that they send to the school is called the signature student loan. I've had that one too so if there is any money after it's applied to your tuition of the amount you requested than they will refund it to you but schools take forever so Tuition answer may be your best bet.
4. As most people have pointed out, it depends on which loan you applied for. Some go through the school and take longer for you to receive the funds. Others go right to you and this is a faster process. However, if you only need $500 I would STRONGLY urge you NOT to take out ANY sort of loan!!! Student loans, even the ones with good rates, will charge you TONS of interest. You could end up paying them back thousands of dollars for a $500 loan. Additionally, many student loan companies won't even allow a student to take out such a small amount! If that's all you need and your parents absolutely won't help you, I would advise you to seek out some other way of making that money. You could try working another job for the next few months of the summer, or you could try to find someone else to lend you the funds. I would even try talking with your parents and explaining to them that you simply cannot afford books without their help. I am sure you can find a way to make the money. Take my advise...taking out such a small student loan is a BAD idea, no matter who you go with.