Flunked college with Loans

Paying for College
1

<p>So I just recently flunked out of college after 3 semesters. I was using the loans through the school so the Federal Direct student loans (subsidized and unsubsidized) and the Federal Direct Parent loans.</p>

<p>It hasn't yet registered that I'm disqualified on the school websites.</p>

<p>My question is what is going to happen? Are my parents going to have to start paying it off immediately and am I as well separately? Do we have to contact the school to set up how it's going to be paid off or will they contact us?</p>

<p>Any information would be very helpful.</p>

2

<p>Repayment of Direct loans will start 6 months (grace period) after your student status is dropping below half time. See [Direct</a> Loans?Graduating or Leaving School](<a href=“http://www.direct.ed.gov/leaving.html]Direct”>http://www.direct.ed.gov/leaving.html)</p>

<p>

It’s better you contact the school to find out who is your loan servicer.</p>

3

<p>Go to <a href=“http://www.nsdls.ed.gov%5B/url%5D”>www.nsdls.ed.gov</a>. You will be able to see all of your loans, including the servicer information. Your school will report your last day of attendance to the servicer, and you will have to start paying on your loans 6 months after you either drop below half time or leave school (not sure whether or not you stayed full time in your final semester …). It is a good idea to contact your school’s aid office to discuss your situation.</p>