Student loan help??

Question

If I get on academic probation will this affect my chances of getting a student loan next school year?

Answer 1

I fell on hard times last year and was put on academic probation I still got my loans and finacial aid for the next year .Just make sure you do exactly what is asked you .I have attendence and grade policies I have to follow while on probation.I also had to go to an appeals board to keep my aid. But it was worth it because I was able to keep everything.

Answer 2

Basically, students who are receiving Federal Student Aid (Pell Grant, Stafford/Perkins loans, etc.) are required to maintain satisfactory academic progress (SAP) or their aid will be forfeited. Every school defines their own Satisfactory Academic Progress policy, which they then use to determine which students are underperforming. At most schools, the SAP policy will state that you need to either

(a) pass a a certain percentage of your classes,
(b) pass a certain number of classes,
(c) maintain a certain GPA or
(d) a combination of 1 or more of the above

Your probationary status *in and of itself* does not mean that you have lost your aid. However, your school might place you on probation because they have decided that you have not made satisfactory academic progress. If this is the case, then you could very well lose your aid for next semester. (You will usually be able to regain eligibility for financial aid once you return to good standing.)

Because these sorts of things vary by school, I would encourage you to take a look at your school's Satisfactory Academic Progress policy (it's usually in the Handbook or Catalog) and see if you're at risk of losing your aid. Worst case scenario: you can apply for a private educational loan that doesn't take your Satisfactory Academic Progress into consideration (Citibank Citiassist, for example). Then make sure that you bring your grades up next semester so that you don't remain on probation.

Finally, if you find that will lose funding because of your probation, you can try to appeal the decision by writing a letter to the financial aid office detailing why your grades fell this semester. It can't hurt.

Answer 3

I think so. But you really should see your counselor. Ask your teachers what you can do to bring up your grades. No more partying. STUDY. Why are you in school if you don't want to learn?