I'm not enrolled this semester in school... I can't start back until I get my student loan to pay my car off...Can I apply for a student loan even though I'm not enrolled for this semester? Or do I have to wait until next semester rolls around and I register?
2006-07-20 16:47:22 · 8 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
You have to be enrolled in classes to get a loan. Sometimes you can get an alternative loan for a previous term, but only enough to pay for a past-due balance .. if you have one.
Sorry, you can't get a student loan to pay for your car.
2006-07-20 17:12:33 · answer #1 · answered by rachcoli 2 · 0⤊ 0⤋
You can apply for a loan, but they won't give it to you.
For Stafford Loans, you must be enrolled at least half-time in order to receive the funds (for undergrads, 1/2-time is defined as 6 credits). For Perkins Loans, you need to be enrolled "part-time" which doesn't necessarily mean "half-time" but that you need to be taking some credits. Most private loans will require you to be enrolled at least half-time, too.
So not only will you not be able to receive loan funding, you will also enter repayment on any previous loans that you may have borrowed. For Stafford Loans, you will enter repayment 6 months after you leave school (your withdrawal date or last date of attendance). For Perkins Loans, repayment begins 9 months after your last date of attendance. Most private loans give you a six month grace period; others won't give you any grace period at all.
Remember, also, that if you enroll, take the money, and then leave school, you WILL have to pay back the loan funds that you received.
2006-07-21 05:50:46 · answer #2 · answered by FinAidGrrl 5 · 0⤊ 0⤋
You must be enrolled as a half-time student (usually that means at least 6 credit hours) in order to be eligible for financial aid such as student loans.
2006-07-21 03:58:29 · answer #3 · answered by jimbob 6 · 0⤊ 0⤋
You have to be a student and you need to hurry back to school before they assume you are not going back. then they will make you start paying off the loans you already have.
2006-07-21 02:00:47 · answer #4 · answered by brownie 2 · 0⤊ 0⤋
You have to be a student. The credit union has descent interest rates for loans.
2006-07-21 02:05:33 · answer #5 · answered by Prophisized Pearl 1908 3 · 0⤊ 0⤋
it is called a student loan, if you are not in school you are not a student, and you can't get a loan.
2006-07-20 19:35:33 · answer #6 · answered by King Midas 6 · 0⤊ 0⤋
Rachel is right.
2006-07-20 17:53:57 · answer #7 · answered by cognitively_dislocated 5 · 0⤊ 0⤋
http://www.daylon.com/scholarship/
that might help.
2006-07-21 03:04:48 · answer #8 · answered by nolyad69 6 · 0⤊ 0⤋