I just got an email very early this morning from the student financial aid office at the New School that my monthly installment plan (I enrolled in one to help ease payment), that the monthly payments had all increased. (As an aside, nice way of telling me about a loan amount change, all in passing).
When I re-checked my awards - it turns out that suddenly, my Unsubsidized Loan amount went from $9,000 for the year to $6,000 for the year. Tuition payment deadline is on this Friday.
Is this legal? I have already signed all the documentation etc to accept the loan back in May or June and I've accounted the financial aid award amount and also accepted attending the school all based on this.
Has this happened to anyone before? I think it's really messed up and I feel like it's the school, not the government loan people, as they don't seem terribly competent in the office...