What happens to your financial aid if you drop classes?

Question

I go to college full time, but want to drop a few classes because my schedule is too hectic. If I did, I would then be considered a part time student....but I'm on financial aid and I know it would affect that. So what exactly would happen?

I'm already on financial aid, but I got it as a full time student. So they paid for all my classes and what not. I just wanted to know what would they do if I did drop some classes, would they make me pay them back immediatly? For the classes I dropped? Does it affect my grace period? My counselors in my college are pretty clueless, student's always complain about that. Trying to talk to someone from my lender is even harder. Thanks though.

Actually I'm senior, and the only way I could drop classes but still remain a full time student, was if I was taking over 12 hours...which people rarely do because that's tough.

Answer 1

It would all depend on what your schools policy is regarding financial aid. If I am not mistaken you are still eligible for financial aid as long as you continue to go to school part-time. As for how many credits are considered part-time and full-time (if you don't already know) review your schools' handbook. If you have private student loans in addition to federal financial aid loans, I suggest you visit the lenders website and review their terms and conditions regarding this issue. Should you have any further questions; my last suggestion would be to speak with a customer service representative with those lenders; and your financial aid advisor/counself on campus.

Answer 2

It's all about tricking the system. I am guessing you're a freshmen. If you want to drop those classes I'd suggest to drop them but keep enough to remain a full-time student. Then if it happens again next semester that you want to drop some more, you need to consider taking one or two electives that will give you credit but that are mad easy (something like gospel choir even if you're not christian. Avoid half credit classes).

Now if you decide to go part-time, you're risking getting less money next year and having to come up with the rest out of pocket or take private loans. And you're risking having to repay money back to the loans you have (if any) for this year. Anything that will come out as a surplus, either the loan will take it back, or the school will take away scholarships or the government financial aid will take some of what they gave you if not all because they assume you can work with the free time you have and they can give it to someone else who needs it. Very often people think they won't make it through the semester with so many classes but you still have to make up for it later.

Keep a full-time load until the end of the semester. You'll probably end up with a W for the ones you want to drop and that will look really bad if you don't take them again and get a good grade on them.

See a financial aid advisor at a public library if the ones at your school really suck.
Good luck.

Answer 3

Check with the fin. aid department. If you drop some many classes before a certain cut off date you may have to pay the money back you received for the class.....