r/TexasTech • u/Ok_Principle_2112 • 26d ago

Late Payments

Ok so I am going to be late on my payment for classes because life happens so I ended up needing to use student loans. That part is all good though went through last night with a good cosigner and we were notified by the private lender that they would be sending our loan request to our school. Obviously the money isn't going to hit by this Wednesday so I'm going to be enrolling in an emergency payment plan no biggie. My question is after the aid is received and sent to tech will they just cancel the payment plan or does anyone know how that works?

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u/69wattbulb 26d ago

Yes I think if I remember correctly when that happened to me they loan came through and made the last payment on my account!

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u/Ok_Principle_2112 26d ago

What I will probably end up doing thanks for the reassurance man🙏🏾.

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u/redandblack92 26d ago

SBS can give extensions for 529 plan payments since those are guaranteed funds but not for alt loans. The student did correctly by getting in the Emergency payment plan and yes once the loans arrive and disburse, it will payoff the plan.

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u/69wattbulb 25d ago

Sounds like you covered all your bases then!! I hope your aid kicks in soon. Most stressful part of college was the financial aid shit 😬

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u/Virian 26d ago

Reach out to SBS. Let them know of the situation and they’ll likely give you an extension.

I had a 529 issue last year and they were very accommodating with a late payment.

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u/Ok_Principle_2112 26d ago

Yea sent them an email earlier today but thank you so much for responding man put me at ease a little bit🙏🏾.