I've always wondered why our loan money doesn't get sent to our personal bank accounts until a week after classes start? We have very real expenses related to school (notably the roughly $300-500 in textbooks) in the run-up to classes. Our Federal loans are disbursed generally around August 1. Our private loans -- around August 10. All of our fees must be paid to the University by August 15. Why can't the university wire the remainder (if any) on the 16th? Why do they wait another ten days after the fees are due to begin rendering unto us money that is rightfully ours (or at least that we, not they, are on the hook for for years down the line)? Are all of the briefly witheld aggregated student funds sitting in some university account generating interest for them or something? Anyone? Bueller?
Labels: Legal Education Costs