Photo: Flickr via jmrosenfeld
Thousands of UCLA students were in for a treat when they checked their bank accounts last week. They’d received double their regular dose of financial aid, CBS 2 Los Angeles’ Cristy Fajard reports.But it was all a big mistake.
The school’s financial aid office blamed the deposit error on a technical glitch and by Monday, they had recovered most of the $27 million accidentally distributed, according to Melissa Truong, a reporter at school newspaper The Daily Bruin.
A bit of a bummer for students–one co-ed said he found $10,000 in his account–but most willingly acknowledged they had to return the cash, Fajardo reports.
On the bright side, UCLA is now one of about 40 universities participating in SoFi, a new innovative loan program that allows students to borrow loans from alumni at lower fixed rates.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.