Fed Financial
Student Financial Aid Question?
I'm attending college and receiving stafford and perkins student loans. However, I canceled my enrollment for this semester and plan to attend the same college next semester. I got a letter saying I should go through exit counseling and stuff. How does this really work, I'm taking a semester off and will I have to repay my loans now? I will be attending again next semester so I want to repay after I graduate
Public Comments
- You have to make a payment 6 months from the date you last attended school. If it was yesterday, 6 months from then. If it was 3 months ago, 6 months from that date.
- SA is correct, however you can apply for a forbearance if you dont want to start paying in six months then go back into deferment when you enroll again in the fall. The forbearance will stop the payments, but the interest will accure on both sub and unsub stafford. Call your lender for more details and check with the school about your perkins options. The exit entrance is a federal requirement ANY time you leave school. When you graduate, they will make you do another one. It reminds you of your rights and responsibility as a borrower.
