Anyone have college loan experience? (and dropped out?)

[Brian Boston]

Asking because I think im gonna drop out of this school im in now (the teaching is fucking horrible) and probably go back to community, which my parents will pay for. I didn't drop the bomb on them yet though, but i'm not gonna waste my money here because i don't think im getting a proper education for the tuition im paying.

I have a loan taken out for a year (2 semesters). im going to drop out after the first semester - so im trying to figure out
-will i still have to pay for the next semester (spring) or will i only be paying for the semester i took?
-will i have to start paying loans back immediately, or will they be put on hold because if i continue my education at community college?

I tried googling around for answers but can't find much. Has anyone gone through this on here? I would tell my parents now but i don't want to have to put up with their bitching yet, so im just trying to find the answers myself.

 

[felinaferoz]

you wont have to pay spring but you have to call the bank and tell them you wont need it.

if your dropping out now in the middle of the semester you might be able to get some money from the school back so you could use that to pay the loan.

if its a subsidized loan= the kind you dont have to pay back until after you were done with college
they will start charging you 6 months after youve dropped out unless you call them and send them proof your attending another school.

if you miss a semester/ dont do anything during spring youll have to start paying it back after 6 months even if your in another school in the fall

if you miss a semester you will lose your health insurance (if your covered by a/your parent(s))



ive been to 3 schools in the last 1.5 years -_-
if you have questions, i have answers.


PS CALL THE BANK YOU GOT THE LOAN FROM
they can answerr any question and scenario you can think of.

 

[Brian Murphy]

o hello lol
i dropped outta delhi you'd have to start paying your loans off in 6 months of leaving school so i started taking online courses so i wouldn't have too.

 

[Brian Boston]

you wont have to pay spring but you have to call the bank and tell them you wont need it.

if your dropping out now in the middle of the semester you might be able to get some money from the school back so you could use that to pay the loan.

if its a subsidized loan= the kind you dont have to pay back until after you were done with college
they will start charging you 6 months after youve dropped out unless you call them and send them proof your attending another school.

if you miss a semester/ dont do anything during spring youll have to start paying it back after 6 months even if your in another school in the fall

if you miss a semester you will lose your health insurance (if your covered by a/your parent(s))



ive been to 3 schools in the last 1.5 years -_-
if you have questions, i have answers.


PS CALL THE BANK YOU GOT THE LOAN FROM
they can answerr any question and scenario you can think of.

Thank you thank you thank you. You are awesome. I wasn't even thinking about health insurance and shit. Now that i know this ill prob talk to my parents this weekend about it.

 

[mcnutty93]

good luck dude