<p>I graduated last may ..... I was supposed to start college in the fall of 2012... but personal issues stopped me...... anywho..... the school that accepted me gave me financial aid ....... I completed the loan counseling...and signed the promissory note... but I never registered for classes and never received a penny of those loans..... I have worked out most of my issues that prevented me from starting and have now applied to another school closer to home to pacify my mom.......... and now just got my acceptance letter.... I now have applied for financial aid and Im wondering do I still have any obligation to those loans since they never actually released any money to me ?........... or am i because I signed the promissory notes ? Im really confused about how that process works...</p>
<p>If you never received any money, you cannot be in default.</p>
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<p>I wouldn’t be so sure. The funds go to the school, not the student. If the OP executed a promissory note, she needs to get back in touch with School #1 and make darned sure they cancelled the note. Yes, they should have . . . but that doesn’t necessarily mean that they did.</p>
<p>Was the OP’s withdrawal documented? Did the school return the funds? These are questions the OP should follow up on, just to make sure that there isn’t a loan following her around that shouldn’t be.</p>
<p>The quickest way to find out if you have outstanding loans is to go to [National</a> Student Loan Data System for Students](<a href=“http://www.nslds.ed.gov%5DNational”>http://www.nslds.ed.gov). You will find the info you need. Post back here if you have questions after reviewing your information.</p>
<p>after i logged into the system this is the message that popped up…what does this mean?</p>
<p>Your identifiers were not found in the NSLDS. If you have received financial aid and believe that you should be listed in the NSLDS, please call the Federal Student Aid Information Center at 1-800-4-FED-AID between the hours of 8AM and Midnight (EST), Monday through Friday, and 9AM and 6PM (EST), Saturdays, to report this situation and receive further assistance. You may also send an e-mail to Federal Student Aid Information Center.</p>
<p>i called the first school and the admissions counselor withdrew me from the system… and they sent me a letter a couple weeks later basically telling me what she said on the phone…i didnt even think to ask about the loans though… is that what u meant…</p>
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<p>It means you’re not listed in the database as a student with outstanding federal student loans. So, you should be okay. Wouldn’t hurt to double-check with the first school to make sure the loan agreement was cancelled, but it appears that it was.</p>
<p>oh ok… i will check … thank u</p>
<p>The OP does NOT have any federal loans. That is what the message received in NSLDS means - there is no record because there were never any loans sent to NSLDS. Since the student never registered, there would have been no loan even with a promissory note. It’s only when a student has registered that the loan could be disbursed … that sometimes happens if a student registers, decides not to attend, but does not officially withdraw (or the school somehow messes up the withdrawal). In some very rare cases, a school might release a loan even if a student did not attend - it “could” happen where I work, since we are so small that we do not have a system that cross-checks enrollment - but the loan would show up in NSLDS. It definitely doesn’t hurt to double-check with the aid office, of course.</p>