<p>I owe my school $700 for unused loan funds, due to total withdrawal and I need to know if I can still go to a different college and get title 4 funds while I have time to pay them back. I was thinking of getting a loan at the other school to pay back that school, but am not sure if I can. </p>
<p>I guess since I owe the school, I am wondering if that means I DONT owe anyone else that has to do with loans etc... Or if this will mess up loans at a different school.</p>
<p>Can I take out a loan at the current school to pay what I owe them? Or do I have to pay them back out of pocket before any loans will be released??</p>
<p>You need to contact the school and see if you can work that out with them. I would doubt it. Your former school is not going to release your records until you do get it paid.</p>
<p>Is your second school offering you loans? Did the first school release your transcripts? If the second school distributes the loan proceeds to you then you can use it to pay off the balance first school. But there is a chance that you won’t be able to matriculate at the new school until they receive your transcripts. I would begin making payments from summer earnings to ensure this doesn’t happen!</p>
<p>What does your Promissary Note from the school say? The rules are laid out in terms of payback and consequences if they aren’t paid.</p>
<p>If the school returned the loan funds, you most likely owe the school & not the lender. But the school won’t release your transcript if you owe them.</p>
<p>Did the school return any grant funds? If so, did they report you for a federal grant overpayment? If they did, that would keep you from getting loans or any other Title IV aid.</p>
<p>If the school returned the loan funds, you most likely owe the school & not the lender. But the school won’t release your transcript if you owe them.</p>
<p>Did the school return any grant funds? If so, did they report you for a federal grant overpayment? If they did, that would keep you from getting loans or any other Title IV aid.</p>
<p>There is a thing called a job and you need to find a way to earn this money as soon as possible to settle your debt.</p>