<p>I highly plan on transfering out of my University at the end of this coming semester. It really has not been what I was expecting and has even affected my studies. At this school I am on Financial Aid, and I believe we are using the Stafford Loans. For next semester I applied for another University, but if that does not go the way I plan, I would go back to my Community College and raise my GPA. My only concern about going back to the Community College is, since I will not need financial aid, will I need to instantly start paying back the loans for the semester I am in right now? This is the only part that concerns me.
Thank you</p>
<p>I don’t believe so unless you are maintaining your full-time status at another university/college even a CC most likely would count.</p>
<p>There’s a 6 month grace period before you must begin loan repayment. If your loan is unsubsidized you will be charged interest during this time. You can either pay the interest or allow it to be added to the amount you borrowed. Different loan types have different grace periods and repayment schedules. Make sure to schedule an exit interview with your university’s financial aid department, you’ll be fine!</p>
<p>As long as you are enrolled as a student (regardless of which school) with at least half-time status, your payments will continue to be deferred. The 6-month grace period nybmc refers to applies only after you have left school entirely.</p>