How do I cancel my financial aid and student loan if I want to switch schools and start school at a later day? Also will I still be responsible for any payments?
2007-04-30 08:12:23 · 5 answers · asked by sweetnbitter 3 in Education & Reference ➔ Financial Aid
Talk to the financial aid office at the school where you have these things lined up. They'll have the answers.
2007-04-30 08:15:00 · answer #1 · answered by Christina 7 · 0⤊ 0⤋
i'm no longer a economic help professional, yet regularly, a sponsored personal loan potential the authorities will pay the activity even as you're in college (and for as a lot as 6 months once you graduate). this may mean that in case you've been to take those loans and pay them off in finished 6 months once you graduate, you will pay no activity. notwithstanding, in case you pay them off depending on the minimum fee plan, it might want to take, say, 10 years to pay off the deepest loan. in case you're trying this, then you truly might want to initiate paying activity because the authorities will no longer pay the activity once you're out of school. mainly, sponsored loans are regularly well worth it. (in case you pay no activity, then you truly're getting loose funds, on condition that $10k in the present day is definitely worth more advantageous than $10k a 12 months from now or 2 years from now, because of the time fee of money + inflation.) (you should likely communicate with an truly professional in this topic, extremely than random human beings on Y! solutions although. The college's economic help place of work is in all possibility the perfect source.)
2016-11-23 17:44:39 · answer #2 · answered by bohlander 4 · 0⤊ 0⤋
Sure. You have the right to cancel any loan before disbursement, and to decline acceptance of any loan funding. If you are not attending, you should have no bill. To avoid a hassle, though, be sure to communicate with the school so they can canel your registration before any charges apply.
2007-05-02 02:48:55 · answer #3 · answered by Bear B 4 · 0⤊ 0⤋
you need to tell your financial aid counselor...
but time lapse might mean you will have to start paying the outstanding loan once certain time has passed that you are not enrolled in school...So if you are working then you can begin paying loan off...or it will be against your credit history rating....
2007-05-07 04:53:35 · answer #4 · answered by BettyBoopGirl 5 · 0⤊ 0⤋
You only incur costs if you ENROLL. Tell the school you wish to "defer admission" and give a specific date if you have one.
2007-04-30 08:17:57 · answer #5 · answered by professorc 7 · 0⤊ 0⤋