I have a loan from one school, but not from another. Why is that?

    Published: 06-16-2009
    Views: 9,515
    Financial advisor Brad Barnett discusses what to do if you have a loan from one school, but not from another.

    Brad Barnett

    Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business.  He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health.  He has been involved in the financial aid and/or rehabilitation professions for the past 15 years. Brad, a Past President of the Virginia Association of Student Financial Aid Administrators (VASFAA), currently serves as the Senior Associate Director of Financial Aid & Scholarships for James Madison University.  Immediately prior to JMU, he served as an Assistant Director of the Financial Aid Office at Virginia Commonwealth University.  Brad has presented numerous sessions at state, regional, and national conferences, and has served on a variety of association committees.  In addition to speaking at professional conferences, Brad has conducted an abundance of workshops and presentations in non-conference environments, including teaching a credit based financial literacy course at JMU entitled “Dollars and Sense.”  Many of the topics Brad’s speaks on include communication, leadership, values, financial aid policies and procedures, financial literacy, and saving for college.  He has also facilitated strategic planning and value development retreats.

    Host: I have a loan from one school, but not from another. Why is that?

    Brad Barnett: I think what you see when you look at loans from schools is some school s have a practice of offering loan money upfront, others don t. It can go from the staff to direct loan perspective, even to the parent loan perspective. So if you are interested in the loans and you don t see it on your financial aid award notice, that doesn t mean you are not eligible. What it means is you really need to contact the school to inquire about it. Most schools who don't offer loans on the award notice, would provide you some instruction s to contact them and inquire about them, but if they don t and you are interested just touch a base with them.