School holding loan money?
So, my college requires that student loan dispersments come through the school, even if the lender is willing to send the loan directly to the student. So, the order of operations is- Lender sends school the check. I start owing interest on the loan. School receives check and puts it in their bank account. They start earning interest on my money. School sits on my money for several weeks for "processing", earning interest all the while. School mails me a refund check for the amount of my loan. This check does not include the interest the school earned on my money in the several weeks it was sitting on their bank account, and meanwhile, I've been accruing interest on the loan but not actually had the money. This strikes me as really screwed up, and I'm wondering if anyone knows of anything I can do about it. I've already been told the school will not certify me to the lender for loans unless the money comes directly to the school. These are all Stafford loans, both subsidized and unsubsidized, and yes, I know the subsidized aren't accruing interest til I graduate, but the unsubsidized are.