Question about being a full time student and financial aid...

[axelfox]

If I register to be a full time student (at least 12 credits) and drop a class, say a 3 credit class within the first couple of weeks (ie I don't like the class), would my Stafford Loans still be ok? They are disbursted at the beginning of the semester, so I don't know how they can retract that, but you never know how you can get screwed these days. What repercussions would I have, carrying less than 12 units on future loans and what could the school do to me?

 

[Vaneleus]

At my school if you drop below 12 you only get screwed on pell grants and the like. I dont think anything would happen on your subsidized loans, you might check with your financial aid office to make sure though.

 

[DaveJ]

I think you have to have a total of 24 hours a year to be considered fulltime. If you drop below that, you lose your loans... so if you take 9 hours one semester, you have to make up for it the next one.

Not like that's happened to ME or anything...

Dave

 

[Stark]

From what I remember, if you drop to 9 in the first semester, you need to take 15 the next.

Oh, and loan payments SUCK!!! It's not free money... if you can avoid borrowing now, DO SO AT ALL COST!