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Financial aid questions

trippyykinggtrippyykingg Registered User Posts: 15 New Member
I just checked my student inquiry and it's showing that my loans are under "charge" instead of "credit" that it was before... Does anyone have any idea why that is? my account balance was negative which meant I would receive a refund and now it saying that I owe almost 3k. The loans also say "Pending",not sure if thats why

Replies to: Financial aid questions

  • whenyoubelievewhenyoubelieve Registered User Posts: 213 Junior Member
    From someone who goes to UMD currently:
    "UMD posts a fake "credit" that represents your aid, so it shows you what your bill will look like once your aid actually posts. So to cancel out the fake credit they then post the exact same amounts as a "charge". This week the real financial aid will actually post, if you have a credit balance then you'll either receive a refund to whatever direct deposit you have on file , or you'll get a check in the mail. If you owed any money after financial aid then you should have already paid it or set up a terp payment plan by tomorrow."
  • trippyykinggtrippyykingg Registered User Posts: 15 New Member
    Any idea when you will get the refund? it shows a ' D Deposit" under charge but nothing shows up on my bank account @whenyoubelieve
  • whenyoubelievewhenyoubelieve Registered User Posts: 213 Junior Member
    @trippyykingg According to another person from UMD, "Financial aid refunds are processed on Tuesdays and Thursdays. At least that has been the case for the last two years. I have always receives my refund the Tuesday before classes start, so we should have our refund tomorrow"
  • trippyykinggtrippyykingg Registered User Posts: 15 New Member
    okay thank you!! @whenyoubelieve
This discussion has been closed.