<p>Since I will have my 30+ hours after this semester and won't get my UT decision until later in May or June, I don't know if I should accept the financial aid offer from my current school (UT-Arlington). I am not a CAP student. I have 21 days to accept this offer (which is only stafford loans) but i'm afraid that if I accept it, that I will be forced to attend UT Arlington next year or that it will ruin my credit or something along those lines.</p>
<p>Does anyone know how this will effect me if I accept my current school's offer? I only want to accept it as a precaution in case UT rejects me for transfer, but I don't want to get screwed in the end if I am accepted by UT. So how does this work? Or will I get to keep these loans as a UT student (if I am accepted) or are these solely if I stay at my current school? Very confused, all help/advice appreciated.</p>
<p>I would call the UTA fin aid department and explain the situation and ask if you could get an extension on the deadline to accept the aid pending your acceptance to UT.</p>
<p>No, I don’t know… but the point is, you should call the uta fin aid department and ask them. They’d have form information about the situation than anyone.</p>
<p>I faced this same thing last spring. I accepted, since I didn’t want to not be attending any school, then later found out my acceptance to UT. I had to fill out a form at my current school to “undo” the financial aid, then I could accept my aid from UT. The counselors in the financial aid offices at both schools seemed very familiar with this, as in they must see this all the time. Call the office to verify the procedure, but unless things have changed since last year, you should be OK. You’ll just have to do paperwork to change it later if you are accepted.</p>
<p>Ok so I have accepted the loan award from my current school, but now they are sending me emails to guarantee/complete the award offer by picking a lender and signing the promissory note. This sounds pretty binding. Does anyone know when the general deadline is to complete loan awards? Fiyero, what did you do?</p>
<p>Yes, I had to pick a lender and all that. Still, you can change it. I did. You will have to repeat the exact same process again with the UT aid if you have loans. You won’t be able to do this however until you “undo” your financial aid at your current school. It seems really complicated but it isn’t. You just have to fill out a form at your current school which states you will not be attending after all. The school I transferred from, ACC, does this all the time apparently and it was very simple. After the form is filed, it takes about three days before you can accept your UT aid.</p>
<p>Do you know if its unwise to wait until I get my decision from UT (another month) until I pick my lender, etc? I don’t want the loan offer to “expire” or anything.</p>