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Patrick O. Oswald
Patrick O. Oswald, Wealth Advisor
Category: Finance
Satisfied Customers: 14
Experience:  20 years experience on wall street with both major and boutique investment banking firms
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I have a friend who is a student in ucla. He has scholarship

Customer Question

I have a friend who is a student in ucla. He has scholarship checks he needs to cash. His drivers lic. was reissued and has not arrived yet. They say it could be 30-60 days. He does not have a bank acct. He's on a full scholarship and if the acct is over drawn the school will charge him a 1000.00 fine. How can he get his checks cashed so he can pay his expenses? He has his school id but the school says they can do nothing. Any ideas? Thanks
Submitted: 3 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 3 years ago.

Rakhi Vasavada :

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

Rakhi Vasavada :

I am sorry to be bearer of bad news but scholarship checks just cannot be encashed. No bank would ever do it It would be not only be difficult but blatantly illegal to say the least.

Rakhi Vasavada :

The only solution that he can have is to just assure anyone that he indeed has such scholarship checks which he would get credit of in 30-60 days and based only on that one can privately help him. But encashing the scholarship checks is out of question.

Rakhi Vasavada :

Sorry again for this but do not shoot the messenger...!!!!

Rakhi Vasavada :

Are you there ? Is there anything more that I can assist you with ?

Rakhi Vasavada :

I hope this helps.. Please feel absolutely free to revert back with a reply if you need more assistance of if I have missed out on any aspect of your question.

Warm Regards

Expert:  Patrick O. Oswald replied 3 years ago.
go to the administration office and have them set up direct deposit. This happens often with international students and there will be someone in financial aid that will know exactly what to do..

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