<p>Okay so I'm applying to an Art Institute in another state and tomorrow I will be applying for FAFSA. I'm just wondering, are student loans per quarter or year? What if I don't like the school and want to come back home after the 1st quarter, will I owe money for not completing the year? or what would happen in that case??</p>
<p>If this is for the 2015-16 school year, you can’t file the FAFSA until 1/1/15. </p>
<p>Student loans are awards for the year, but disbursed by the term, which in your case is 1/3 (usually the summer term isn’t used, but if it is common for the students to go all 4 terms, they may divide into 1/4). If you don’t return the second term, that portion of the loan will not be disbursed.</p>
<p>First things first. FAFSA is a form you fill out. Nothing more, see what the initials stand for. When you sign up for a term at college you owe the tuition and fees. You don’t get that back unless you withdraw properly in time, subject to school policy. So if you get federal loans, sure, you have to pay them back if they are disbursed. They are disbursed by term, though.</p>
<p>So if you go to AI, make sure you know what dates are to commit for the next term. you will owe money to the school for the term if you sign up don’t withdraw by a certain date that is designated for full refunds.</p>
<p>Can’t you find a school that isn’t for profit to attend?</p>
<p>It’s the only school in that area that offers an animation program, which is why I want to try it out and if I don’t like it I’ll transfer to another school after I finish the first quarter.</p>
<p>You won’t be able to borrow enough to go to this school. All you can borrow is $5500 which will be divided into THREE quarters…so you’d get less than $2k per quarter. HOW would you pay for all the other costs?</p>