<p>I was wondering, if i have a loan out for lets say 3,000$ at a Cal state school, then plan on transfering to a Private school, Will that loan still let me pay it back 6 months after i grad.? or because i got that loan from a seperate school, they are going to make me start re-pay immediately because im moving on to another school?</p>
<p>No, your federal loans accumulate, and you pay them off when you graduate or stop attending. (I’m simplifying this, but if you’re out of school for more than 6 months, they are repayable, unless you go back to school full time, etc). </p>
<p>So, no, you do not start repaying them when you go to new school. They pretty much just get tacked onto your total.</p>
<p>Our son attended two different publics for undergrad. About $18 in Staffords accumulated. He entered grad school 8 months after finishing undergrad and so his loans went into repayment for 2 months.</p>
<p>It WAS a bit of a process convincing his two different lenders to get his loans into student deferrment, he ended up having to pay two additional months. But now they are in deferrment until he completes graduate school in May 2011.</p>
<p>awesome! thanks for the info guys, very helpful, because i will be out of school for about 6 to 7 months before i start attending this univ. im transferring to, so i guess once the 6 months is up ill be paying on it for a month or two then the deferment will start back up again once i start classes at this new school? thats what i got from it atleast. if thats the case. then everything should be ok! =D thanks!</p>
<p>jppro911-
Yes, that’s how it worked for my son.(Who has $18,000 in loans not the $18 I mentioned!)
Just remember, it might not be ‘automatic’, you may have to email, write, call to get those pesky loans to go into deferment.</p>