Uncertain about Perkins loan disbursements

FLTiger
Sat, 08 May 2010 21:56:04 +0000

I am helping my niece sort out her money requirements for next year, and am confused as to the disbursement mechanics. She is transferring to UF, and needs to get money together for apartment deposits, etc.

She has filed the FAFSA and has been getting a Pell Grant and FL Bright Futures at her CC for two years. She will need to borrow about $6K to cover expenses over what she will earn this year.

Questions -

If she gets a Perkins subsidized loan, will that come back to UF to be disbursed to her to cover her housing?

Will she get this money soon enough to pay deposits in July?

Do the Perkins loans consolidate for each year she borrows, or will she have two loans and two payments when she finishes?