I accepted all loans (all of which are federal) offered to me for Fall of 2019 and Spring of 2020. Due to unforeseen circumstances I have to take the spring semester off despite having already accepted the loans for spring. My question is, since I won’t be enrolled, will the loans still be disbursed or will my school send them back? Will it be my responsibility to request for the school to send them back, or will they just do it when they see I’m not registered?
Thanks.
They should not accept them BUT since they are in your name you should make sure you talk to the Finance office at school. Mistakes can be made and you don’t want that to happen. Much as I hate the word, be Proactive.
They cannot disburse the loans if you are not enrolled. Make sure you have correctly withdrawn from school (and the dorm).
The loans you took for the fall will have a 6 month grace period and then will go into a repayment schedule. If you go back to school in June, no problem. If you go back to school next fall, the payment status will change back to deferment.