Can Endowment or inheritance pay ACE Loan

[xchefmike]

My wifes grandfather left an education inheritance fund for the kids. It is enough to pay for both the initial $2500 and the ACE loan, can this be sent to his account (if he gets in)

 

[nurseypoo]

From what I was told from the accounts officer, they must take out the ACE loan, but it can pre-paid, re-paid. That means the day he takes it out, it's already paid for. This will ensure that at the end of the semester (or quarter) he will receive more $$ back.