When receiving a student loan payment it typically comes in one of two ways. The first is a reimbursement check from your enrolled school for the amount left over (not used by the school). Otherwise the check is sent directly to you and it is up to you to pay the school for your tuition. Whatever method of receiving the money it is possible to have your student loan turned into cash.
Visit your bank or credit union. Because a student loan check is typically a fairly large amount it is important to go to a bank you are a member of. Many banks do not cash large checks for individuals they do not know (as it is easy to deposit a fake check and split with the money).
Sign the back of the student loan check and give it to the bank teller with your bank identification.
Ask for the check to be cashed. Due to the large amount you may be asked if you want to place any of it in your banking account. Turn this offer down.
Sign the receipt stating you received your entire student loan payment in cash.
Things You Will Need
- Student loan check
- Banking account
- cash image by Alexey Klementiev from Fotolia.com