What Happens to financial aid and loans if you don’t enroll in class?
Say you already have accepted or adjusted your aid/student loans for college. You however, don’t or aren’t able to enroll in classes, but you’ve accepted the aid. What happens to the aid and loan? Do they take it back or send it back?
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Comment by Ashley
not sure what they’ll do about the money this semester, but you for sure wont be able to get financial aid after this semester. Enroll in class or you might never be able to get financial aid again.
Posted on August 23, 2010 at 6:18 pm
Comment by Belie
You do not get the financial aid. It stays with the school, and you cannot “reclaim” it if you ever decide to come back after that year is up.
But it’s not true that your financial aid would just poof and disappear if you change your mind. You don’t get punished for not being ready for school, acknowledging that, and withdrawing from the school.
Provided you don’t use any of the loan for anything else, you will need to read the contract on what to do to cancel it. If you use the loan to pay for something, you will have to pay it back.
But do make sure you officially withdraw from the school.
Posted on August 23, 2010 at 6:54 pm
Comment by Chris
They shouldn’t give you the loan/aid until after the add/drop date.
Posted on August 23, 2010 at 7:35 pm