My friend went to my community college and recieved financial aid, but he just quit going to class. And now he wants to go to a University can he attend the other University and recieve fiancial aid owing another school money?
2006-06-07 12:23:17 · 5 answers · asked by Brookey 3 in Education & Reference ➔ Financial Aid
He won't be denied financial aid for owing the *school* money, but given what you've said here, he might be denied financial aid for another reason: something called an "overpayment." It works like this...
You have to "earn" financial aid. You can't just enroll, get financial aid, and then stop going. In order to "earn" your financial aid for a semester, you have to complete at least 60% of that semester. Since you say he "just stopped going," the school will determine the date of his last day (they can ask his teachers, other staff-members, etc.). If this date is before the 60% point, his financial aid will be pro-rated (based on the percentage of the semester that he actually DID complete) and HE will have to return any "unearned" funds to the lender or the government. This applies to all federal grants AND loans and most state aid as well. NOTE: you can't circumvent this system by taking an "incomplete" in or withdrawing from all classes.
If he returns this money, he can easily enroll and receive financial aid at another school. If he doesn't return it (and hasn't completed 60% of the semester), there will be a flag on his FAFSA and he will be denied financial aid wherever he goes.
Some schools deal with this a little differently. At my school, I don't let the students "walk" with federal aid. I return the money on their behalf so that they then owe the school and not the feds. This protects the student *and* my office. But your friend's school might do it differently. He really needs to find out so that he doesn't get any nasty surprises later.
2006-06-07 13:19:58 · answer #1 · answered by FinAidGrrl 5 · 5⤊ 2⤋
Yes, because the loans will transfer to his new school and well as his debt. Call the financial aid office of the new school to inquire.
2006-06-07 19:28:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
yea, you have a certain amount of time, like a couple years to pay off the other one, but if it is financial aid, you dont have to pay it back, you only have to pay back student loans, financial aid is is where the school and government help low income students by paying their tuition, and by low income, i mean anything less than paris hilton!!!!
2006-06-07 19:30:03 · answer #3 · answered by kaligirl...xxx 3 · 0⤊ 0⤋
yes, as long as he pays the financial aid company back within a reasonable amount of time.
2006-06-07 19:27:08 · answer #4 · answered by brainlessbandit 5 · 0⤊ 0⤋
i dont know but that was a really stupid thing to quite liike that i didnt think you had to pay fiancial aid back maybe you should be asking that question
2006-06-07 19:28:04 · answer #5 · answered by silk 1 · 0⤊ 0⤋