Would this work? (UPS tuition)

Discussion in 'UPS Discussions' started by Asinine, May 27, 2011.

  1. Asinine

    Asinine New Member

    Well I'm changing schools this fall, and thats going to require me to use our tuition program. Problem is for me, I can't cough up that $1500 a semester up front. So my question to anyone here who has used it (if anyone at all), is it possible to "attach" a student loan to our program so that the money is being paid up front (with the exception of it not coming from my pocket), then once I pass my classes each semester and send in the correct documentation, I could get it reimbursed and pay off the loan like usual? I'm just trying to figure all of this out.
     
  2. brownedout

    brownedout New Member

    That would now depend on whomever is loaning the money to you. Since you would be "paying upfront from your pocket (with loaned money)" this is now where your reimbursement will be headed. What is the rate they will be charging you, and when does this rate begin. Will they assess any penalty for your very probable immediate repayment. All very important questions to consider before you accept any institutions loan(s). Best bet if at all possible, hit up a family member, or very good friend for the 5 month loan. Also write up a quick loan and repayment schedule, so everyone is covered and shouldn't feel cheated in any way. Good luck to you.