I am extremely worried because today I got an email from the OFS at UW Seattle saying there was an update. I went to look into my account and found that my Fed Direct Unsub Stafford Loan and Federal Direct Parent Loan had been canceled.
I had no clue there was a deadline. My parents and I always figured that federal loans were handled federally and so they would sort of be automatic. I suppose not.
We figured we could deal with looking at the financial aid things after we got through a few hoops in life. We (naively) did not know there was a deadline so we delayed it until life got less crazy. These last few weeks I studied and took 5 ap tests, found a roommate, we sold our family’s business and are dealing with its assets, I have had multiple high-stakes interviews, I had a final in just about every class, prom happened, and I came out to my conservative Christian parents. It has been a crazy month and we knew that going in so we figured we would deal with it (I kid you not) tomorrow when most of it would be mostly wrapped up.
Our mistake.
Are there any steps I can take to get these loans back? I can not stress enough how I do not need my parents to be mad at me for something else right now.
Please be gentle. I recognize this is completely my bad.
Adding to others…you should be fine. The federally funded loans are available to you still.
Call the financial aid office. Find out how to accept them.
But one question…is there any chance you got an outside scholarship? If you did, it’s possible that the loan was taken out of your package for that reason.
It sounds like the FAFSA was submitted on time…but that maybe the student didn’t accept,the loan part of their financial aid package.
Really…for the Direct and Plus loans…you can apply for,them DURING the academic year. There really isn’t a “deadline” of now. You can even submit a FAFSA during the academic year and be eligible to receive those loans.
The college may have had a date for accepting awards…but that would NOT prevent the student from getting these loans…assuming he didn’t get some scholarship and the loans would then exceed the COA.
He needs to contact finaid…and say he wants the Direct Loan…that one should be easy.
I can certainly understand if it is for a scholarship. But for a Stafford loan? Even not accepting the scholarship should not affect the loan unless the student did not even pay the deposit to the committed school.
It’s not going to change the availability of the loan, and I agree the ‘accept or reject’ deadline shouldn’t have passed, but maybe this school has a program where everything is rejected if not specifically accepted by ___ deadline. Or it may be that there were verification documents not received so the loans were taken off.
It’s not a big deal. Contact the school and ask what’s up.
Great news! If this is your first student loan, the next step is loan counseling - usually an online video training sort of thing. Watch for an email or portal update so you don’t miss the next deadline.