ITT-Technical Institute Questionable Financal Aid Practices Knoxville Tennessee
I am in my first quarter at ITT-Tech. I'm working on the two year Computer Networking Systems degree.
When I went into the financial aid appointment, I was expecting to be able to get cash back if my grants and loans were over what was needed so I could buy supplies, gas, etc. The Financial Aid Rep told me as of a year or two ago they were not allowed to give me any excess back. It has to either go into my account at the school or "be sent back" to the bank where I got the loans from. They combined all 2 years into one financial aid appointment. I THINK they said I'd have to come back next year or next quarter to do it again...I need to review my loan papers. I will update after I do.
A family friend started at a local junior college and was allowed to intentionally get loans over what was needed to buy necessities and a computer.
Am I getting screwed?
If I get out now, I will only owe about $1,800. I qualified for just shy of $4,800 for this year in Pell grants alone. If I leave ITT now am I eligible to get about $3,000 back? How does this work?
Please help!
Jason
Maryville, Tennessee
U.S.A.
1 Updates & Rebuttals
I Hate Itt
Fairborn,Ohio,
U.S.A.
cost of living money
#2UPDATE EX-employee responds
Tue, February 24, 2009
ITT policy is that any excess funds will be returned to the lender and will not be delivered to the student. Or that is the way it was when I was employed there. This policy is to keep the students from borrowing more money than they need. the cost of the program is so high anyway, it is difficulet to find funding anyway!