The University of Alabama

I haven't yet applied, but my bill is due soon. I know processing takes 6 to 8 weeks from start to finish. Is there any type of interim aid I can have while I wait?

No.

There's no interim aid. Students often ask if they can take out private, non-federal loans while they wait for their FAFSA to be processed and their federal loans to be disbursed. Students are discouraged from pursuing this because it will still take about 4-6 weeks to receive alternative loans, and if you take out alternative loans in advance of your federal loans, you may inadvertently take out too much private loan, which you would then have to return. This can be costly. Or, if you didn't want to return the private loan funds your federal aid eligibility could be adversely affected. The best strategy is to file the FAFSA as soon as possible, and, in the interim, work out a payment plan with Student Receivables. If you are eligible for financial aid and you have already made a payment to the Student Receivables, you would be reimbursed for the amount of overpayment OR your credit card would be credited with the amount charged.

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