This year I applied to schools in the us and the uk. The timing for the uk schools is a little later than the us schools so I choose to place a deposit for an American school until I heard back from the uk. Long story short, my parents got a parent plus loan for an American school and we found out a couple days later that I was accepted in the uk. My dream is to study over there but I fear that because the loan is set I can’t go over there. Is there a possibility that I can cancel the loan for the us school to the uk one? Or am I stuck here with the us school?
You can definitely cancel the Plus loan, and in fact if you don’t go to the school the loan would be cancelled anyway. They can’t fund a loan if you don’t attend school. Just tell the American school you aren’t going to attend, and tell the FA office that.
Good luck in the UK.
Thank you so much for the quick response! By any chance do you know if I can cancel the plus loan for the American school and ask for a parent plus loan for the uk school? I’m going to call fasfa tomorrow and see what they say. Thanks again!
If the UK school qualifies for using US financial aid (Pell grants, loans) they may be able to help you. If it is not a qualified school, no, you won’t be able to get a Plus loan. You cannot transfer a loan from one school to another you have to process it through the school you will be attending.