University Of Phoenix Appolo Financial Aid - Student Fianancial Adivsors UoPX Financial Aid Advisors do not Honor student Request to manage own Financial Aid and Unofficially Change Direct Student Loan Disbursement Dates Internet
Has anyone experienced UoPX not honoring Authorization "Not" to Hold Future Funds which allows you to manage your own funds as well as Unofficially change Direct Student Loan Disbursement Date from 9 Sept 2010 (official)without notifying Direct Student Loan servicing center and student in writing - UoPX unofficial disbursement date 11 Oct 2010?
As of 20 Sep 2010, my Financial Aid Adviser basically informed me just because I requested to manage my own financial aid instead of the school the school will not request disbursement until I complete 12 semester hours online and campus-night. UoPX Financial Advisors are a rip off and misleading, they make up policies as they go along.
I am afraid UoPX will caused me to lose my second disbursement in that I will have to pay out of pocket money to UoPX which will cause me financial hardship. The Direct Student Loan informed me, my disbursement date has passed and the school has not requested the funds as well as informed them of any changes. also, DSL stated credit hours is not a reason for the school not to disburse the funds.
Note, Direct Student Loan informed me the school recieved both Full Unsubsidized/Subsidized Student Loans in July 2010 which my courses are paid in full. As a distance learning student/working Parent who do not have the luxury to complete 12 semester hours in one semester as regular day students. UoPX is all about the money and how much interest they can acquire prior to releasing refunds and have students manage their own money.
Thanks
Antoinette
1 Updates & Rebuttals
Jeanski
Buffalo,New York,
USA
solution
#2Consumer Suggestion
Tue, September 21, 2010
It took me a while, but I think I finally see what's happening here. I respond to a lot of the reports regarding online schools because I have a lot of experience in higher ed. It has always astounded me that students are told they have to complete 12 hours before they receive the financial aid disbursement. This is NOT how it typically works. What these schools are doing is ensuring that they receive their money. There are two possible scenarios that can occur:
First, student enrolls, completes 12 hours successfully, and financial aid is disbursed. School has the loan money, and the remainder is sent to the student. The school has it's money, regardless of the financial strain to the student who needs the remaining loan funds to support themselves.
Alternatively, the student could disenroll before the completion of 12 hours. The financial aid must be returned to the lender, leaving the school to collect the unpaid tuition. This puts the school at a disadvantage.
Like any business, U of P will do whatever is in their financial best interest (option 1) regardless of how it affects the student.
Buyer beware!
The best options are to enroll in a traditional college that offers a program for the working adult, or get your student loan financing through a bank/credit union.