<p>I ran into some issues this semester and am now failing 3 out of 5 courses. (Failing 9/15 credits). Im also 2/3 of the way through the semester, so today is the last day for dropping classes at my University. I really want to drop these three classes, but I don't know how it will affect my financial aid. As of now, my financial aid is:</p>
<p>Federal Pell Grant<br>
PHEAA Grant - FT<br>
Federal Perkins Loan<br>
Federal Direct loan-sub
Federal Direct Loan-unsub<br>
Sallie Mae Smart Option </p>
<p>It is probable that the conditions for your aid include full time student status for most, if not all, of your sources. Make sure that doesn’t become an issue before dropping classes. Many of these programs offer part time amounts which you may be reduced down to but that may not be enough to cover the costs you will incur for the semester. For the Federal Direct loans you need to be in school at least “half time”. Dropping 3 out five classes would reduce you to less than half time and all of those funds are at risk then I believe.</p>
<p>Another concern is that if you fall below half-time status your loans may enter repayment. Because this is such a sensitive area I recommend going to your university’s aid office and talking to someone immediately to work something out with them so that you don’t lose too much aid or have to repay your loans immediately.</p>