Fed Financial
financial aid?
Is anyone able to answer this question or had similar experiences? 18 years ago I was in default on a student loan I did make arrangements and paid the loan back. I was wondering will this bar me from receiving financial aid now I am planning to attend classes for a degree. I have completed my FASA and am eligle for aid but I am afraid because of my bad choices years ago they will deny me. Is this possible?
Public Comments
- if ur loan has been paid off, it should effect you. Do u have other loans that are in default? if so, then u may have trouble.
- I believe as long as you paid the loan back and got it pulled out of default, you should be OK to receive financial aid now. Here is what the FAFSA website says: Who is eligible to receive Federal Student Aid? To be eligible to receive federal student aid, you must meet certain requirements. You must: * Be a U.S. citizen or eligible non-citizen * Have a valid Social Security number (unless you're from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau) * Comply with Selective Service registration, if required (see www.sss.gov for more information) * Have a high school diploma or a General Education Development (GED) Certificate or pass an approved ability-to-benefit (ATB) test * Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs Also: * You must not owe a refund on a federal grant or be in default on a federal student loan * You must have financial need (except for unsubsidized Stafford Loans) * You must not have certain drug convictions
- as long as you either made 6 months consecutive payments or paid it off you'll be okay. If by chance your school denies you for a defaulted loan, as long as your have made 6 months in payments the Department of Education can give you a default clear letter to give to your school and they will waive it for you. Don't worry, you'll be okay!
