Loans, Transferring and Grace Periods, oh my!

Paying for College
1

<p>Hello all, I checked CC for answers to my questions but couldn’t really find anything with my specifics…</p>

<p>Long story short, I’m taking a semester off of college (this fall) due to mental instability, physical health issues and financial hardship. I already contacted my university and told them I wouldn’t be returning and they said I didn’t have to take any further steps. </p>

<p>When I return to school (spring semester), I’ll be going to a community college instead of a university in a completely different state… which leads me to the following questions:</p>

<ol>
<li><p>Who will I need to contact to ask for the 6 month grace period for my Direct Subsidized and Unsubsidized Loans? Can anyone link me to a specific form?</p></li>
<li><p>Do I need to go through exit counseling in order to receive the grace period?</p></li>
<li><p>On the Federal Student Aid website (Direct</a> Loans—Graduating or Leaving School) they say: “Your grace period begins the day after you stop attending school on at least a half-time basis. Once your grace period ends, you must begin repaying your loan(s).” What happens if school scheduling is different in the new state in which I will be going to school at? For instance, the university I am withdrawing from goes from August – May while the college I will be going to is in session from September – June; making my 6 month grace period end before the start of a new semester… </p></li>
</ol>

<p>Any and every piece of information would be greatly appreciated. Thank you.
-taintedGYPSY</p>

2

<p>You can apply for deferments due to low income, and for continuing your education. Contact your lender for information.</p>

3

<p>Thank you so much. I guess I didn’t think my lender would be willing to work something out with me, but I might as well give it a try!</p>