my tuition and fees are 100% paid for, and i'll be getting a refund from the school......loans and grants.
it looks like i may have to drop my classes completely. once they have refunded that money to me, can i keep it? or do they expect it back right away? obviously i know i have to repay the loans eventually. but can i use it in the meantime for other big expenses (ie; relocation)?
2007-08-07 03:22:04 · 6 answers · asked by jmprince01 4 in Education & Reference ➔ Financial Aid
You will not be able to keep the money you have been refunded if you drop your classes. It depends on the date you have withdrawn. If you have Title IV funds (Pell, Stafford loan, Perkins, ACG/SMART), then a calculation will be used to determine what percentage you have to return.
You will want to contact a financial aid officer at your school for more information as no one here will be able to accurately answer that for you. Good luck!
2007-08-07 04:31:30 · answer #1 · answered by caba 5 · 1⤊ 0⤋
If you completely withdraw from all of your classes then the financial aid office is required to do a calculation to determine if you are required to pay back any funds and, if so, how much. Your aid was awarded to you assuming you would be attending the entire enrollment term. Since that is not the case then you might have to pay some of the funds back. Don't count on being able to keep your entire refund.
2007-08-07 07:32:17 · answer #2 · answered by JRM 5 · 1⤊ 0⤋
I honestly have pupil very own loan. i replaced into scheduled to take 4 instructions next semester; although, through fact I replaced majors, the instructions that I have been registered for have been a sprint extra reasonable yet through fact I replaced over, those are extra high priced instructions. i choose to drop between the instructions with the intention to be waiting to pay for instructions while not having to pay something. Will my pupil very own loan be in worry by using dropping one type?
2016-10-09 09:56:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You need to go discuss this with the financial aid office. It's likely that if you drop classes before a certain date that your financial aid won't be released to you at all. It will be returned to the source.
It's also possible that doing this could effect your eligibility for financial aid in future semesters.
Be careful how you proceed here and make sure you remain eligible for further funding.
2007-08-07 03:29:37 · answer #4 · answered by CoachT 7 · 1⤊ 0⤋
I found interesting information about your answer, college loans, scholarships, college grants & partime works here.
http://all-student-loan-consolidation.blogspot.com/2007/07/scholarships.html
Good luck!
2007-08-08 01:54:02 · answer #5 · answered by Anonymous · 0⤊ 0⤋
my name is timothy j. hicks i work for a student loan firm called student aid lending i would like to get the opportunity to talk to you about the options that you have with your loans. i can be reached at 800 964 0642 and just ask to speak w/ tim. hope to hear from you soon and best of luck.
2007-08-07 08:21:55 · answer #6 · answered by Anonymous · 0⤊ 3⤋