A few things can happen in this scenario:
- If the second disbursement has not been sent to the school, we can submit a request to cancel the additional disbursement.
- If the disbursement has already been sent, then the school will send the excess back to SoFi and we will forward that to our servicing partner to reduce your overall loan amount owed; OR the school will give the excess funds to the student and the excess funds can be applied as an early payment, or used for qualified education expenses.