I dropped a class and have to pay back some grant money. Since I did not lan to return to college I did not give it a big priority in paying it back and it went into collections. Now I would like to return to school. If I repay the money, will I again qualify for grants? I will get a student loan if I can't get a grant.
2007-04-03 17:53:09 · 1 answers · asked by nursesr4evr 7 in Education & Reference ➔ Financial Aid
30 years, hmm. That's when I graduated high school. lol
2007-04-04 06:03:57 · update #1
A BEOG??????? It hasn't been called that in over 30 years, are you talking about a Federal Pell Grant or a Supplemental Educational Opportunity Grant? Yes, if you repay the money you regain eligibility for Title IV financial aid, but if you do not pay it back you will also not qualify for federal student loans and many alternative lenders will also not approve you for loans either because the uncollected federal education grant appears on your credit record. Be aware, too, that this will continue to appear on your credit record, like defaulted loans, for at least 7 years after it is paid off.
2007-04-04 01:16:09 · answer #1 · answered by mickiinpodunk 6 · 1⤊ 0⤋