Preparing for next semester finances
The spring semester is coming to a close and that means two things: students are gearing up for summer and deposits for the next semester of school are soon to be due. Most colleges require deposits for both attendance and housing by May 1 (dates may vary). In fact, if not paid by this date, the school may give up your spot to another candidate.
Since paying a deposit shows intent to attend a school next semester and deposits are traditionally non-refundable, it is important to have your funding in place at this time. Some schools will allow you to delay paying a deposit until you receive your financial aid, but check with your college to be sure. See our tips below to help you properly manage your deposit and get your funding in place early.
Tips for Managing Your Deposit
- Verify the deposit due date for your school – usually May 1st (especially for new students), but it may vary by campus.
- Understand the costs and financial aid you will have for next semester. Other factors will effect your decision to enroll (or re-enroll), but costs – especially in the current economy – will be a major consideration.
- Contact your financial aid office if you have any questions about your financial aid package for the next semester or academic year.
- When you pay your deposit, make sure to get a receipt to your records…
…and always remember to use SimpleTuition to help you compare student loans!
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