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HELP needed regarding student billing and financial aid..

Teeta1Teeta1 Registered User Posts: 45 Junior Member
Ok ..so mybill account show me this ...

Current Account Status

Balance: $9,345.02
Estimated Financial Aid: $7,623.00
Current Balance Including Estimated Aid: $1,722.02


Kindly someone help me regarding this..so how should I read this? Does it say that my total 'bill' is $ 9,345 ....Financial aid help (approx) is $7,623 ...and what I have to 'pay' is $ 1,722 ....right? Or I'm missing something!

Secondly , Davis "offered" me two loans...I didn't "accepted" them.... can I now accept them? If yes , then would it mean that the amount I have to 'pay' will go down?

PLEASE HELP ME!

Thanks....
Post edited by Teeta1 on

Replies to: HELP needed regarding student billing and financial aid..

  • sopranokittysopranokitty Registered User Posts: 1,506 Senior Member
    Click on the eBills tab and it will show you your statement for September, along with the amount due for that month.
  • Teeta1Teeta1 Registered User Posts: 45 Junior Member
    ^Thanks. It says 1722 ..

    But what about the other part of my post?

    Davis "offered" me two loans...I didn't "accepted" them yet.... can I now accept them? If yes , then would it mean that the amount I have to 'pay' will go down???
  • PhantomVirgoPhantomVirgo Registered User Posts: 1,088 Senior Member
    How does financial aid get dispersed? Is there a way to specify that you want a certain amount of your aid to go towards tuition/housing, or is it automatically determined and payed as such?

    Thank you to anyone who can answer.
  • sopranokittysopranokitty Registered User Posts: 1,506 Senior Member
    Whatever is left over after financial aid pays for your tuition and/or housing (if you're living on campus, and the amount of financial aid you're getting is enough to cover both) gets dispersed to you. It's automatically determined--when you go to your MyBill statement, it shows you the estimated amount of financial aid that will go towards tuition/housing, and if you have a negative balance listed as your current balance (for example, my current balance is -$79.18), then that's the amount that you will get back, either as a check or through direct deposit to your bank account.
  • aunt beaaunt bea Registered User Posts: 9,287 Senior Member
    Teeta1: I think that you need to contact the financial aid office. It sounds like you owe $1722 by Sept 15. FA offices have to estimate what they think you'll need to pay your tuition and fees for the year. It's called the Cost of Attendance (COA). Fees go up and often change so the FA office has to estimate what you may need in the Fall.

    The FA package they put together has to equal the estimated cost of attending the university. If they can only get $7632 from the state/government, then the rest of the fees have to come from SOMEWHERE: either the student and family, or from a LOAN offered as part of the financial aid package.

    Typically, you and your family review the acceptances packages in the spring, and read through EVERYTHING together, when you are deciding where you will attend in the fall. Financial aid is a combination of grants/scholarships, work study and yes-LOANS to meet that total Cost of Attendance (COA).

    The Financial Aid office estimated that providing a loan to you would cover the extra fees to meet your total COA. When you received your financial aid package in the Spring, it should have given you a total with where the funds were coming from? When you declined the loan, you cut off part of Financial aid. Loans really are part of the Financial Aid package.

    You have to find out if the loan is still available to you in time for you to begin classes, but the only way to do that is by contacting the FA office. At this time of year, it is extremely busy and you may not get an immediate response. Additionally, most loans are government loans which require you to fill out a promissory note (promise to repay) online which then, eventually, gets routed to the FA office. There's still a little time for you. Good luck!
  • Teeta1Teeta1 Registered User Posts: 45 Junior Member
    Thank You Aunt Bea! Well few things ...

    I haven't "declined" loans offered to me...I just didn't "accept" them. Is this seen as 'declining'? On my financial aid package , it still says loans and "Click to accept" etc...So I guess I'm still in the game?

    Well I have already written to Davis' undergraduate financial aid office..but got no response..It has been three days since I wrote to them. Probably they couldn't reply due to weekend ? I don't know..Well lets see..
  • purply110purply110 Registered User Posts: 38 Junior Member
    Teeta1 I think calling them would be a better idea instead of emailing them. You'd be able to get all your answers right away rather then waiting for them to reply to you via email. Just a little suggestion...
  • calibear1991calibear1991 Registered User Posts: 41 Junior Member
    so the we're expected to pay the remaining balance out of pocket? and does this include everything such as housing fees?
  • cahsparentcahsparent Registered User Posts: 334 Member
    @calibear1991, based on the numbers you have provided that looks right. If you look at the breakdown for $9,345.02, you will see the line items like the following:

    Fall Quarter Housing Fees HFAL
    Residence Housing Deposit HDRH
    Statement Intent Reg-Fall SIRF
    Fall Student Health Ins (SHIP) UINF
    UG Fall Qtr Tuition & Fees

    etc.....
  • calibear1991calibear1991 Registered User Posts: 41 Junior Member
    alright. so if we have enough financial aid to completely cover the bill, do we need to do anything? i'm asking if it'll automatically handle it or if we'll still need to manually pay the bill.
  • sopranokittysopranokitty Registered User Posts: 1,506 Senior Member
    It automatically handles it. You don't need to do anything if you have enough financial aid to completely cover the bill. If you have a negative balance, that's the amount that the financial aid office will reimburse to you.
  • capricornmarypcapricornmaryp Registered User Posts: 4 New Member
    so if you pay the balance, then everything should be paid automatically? Is it done on the 15th?
  • sopranokittysopranokitty Registered User Posts: 1,506 Senior Member
    Financial aid kicks in a few days before September 15. If you have any outstanding balance after that (such as if the amount of financial aid you're getting isn't enough to cover your bill), then you would pay the remaining amount by the 15th. On MyBill, under Current Account Status, you should see something that says "Current Balance Including Estimated Aid". If the amount listed is negative, that's the amount the financial aid office will refund you. If the amount listed is positive, that's the amount you would pay out of pocket by September 15.
This discussion has been closed.