Hello,
I'm currently working on filling out a federal aid work sheet. Trying to get enrolled for health transcprictson assoc. degree.
I was wondering if i should sign this one thing called EDUCARD. It's a contract. When funds are appointed and disbursed for my schooling. It puts all of it on this card, and the school has all power over the card to put money to fee and books etc.. In small print it says.
"educard is*****Inc's interest bearing installment loan program that is available only to students attending***** university,*****institute of technology. The objective of educard is to provide a loan for students to paytuition and book cost for attendance at *****.It offers students a monthly payment plan that is worked out accordingly with the students financial circumstanses. the educardrequires students to apply financely aid and monthly cash pyments to their account to reduce any outstanding educard balance while in rolled. the school acts as agent for ***** inc. in recieving payments and approiately transferring credit balances to reduce the educard balance.
" Upon gradution or other termination of enrollment, a student may have a remaining balance on his/ her educard account. in that case ***** inc. educard account converts to an installment loan and requires that the student pay any outstanding balance on the card account within twelve months of the time of attendance discontinued.....
There is another page of fine print I could email to expert if needed. I want to be able to controll funds if needed to be. And if federal aid alots some kind of amount towards living and child care , etc etc. I'm scared by signing this. that i will not recieve this side of the money. I need help!!! Tryin to get education to better myself ,therefore so i can better care for my kids future too. I'm new to all this process. and really dont have a clue as to what I'm able to get. I'm currently on SSI- i would greatly appreciate any and all help I can get on this subject. Thank you , ahead of time for this help!!