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financial aid & leaving school
you answered one of my questions and now i have a follow up question lol.
i borrowed loans for college. if i finished up the first semester and decided to leave after that, would i have to pay back the loans for the spring semester..even if i didnt begin the use them?
(if you dont know, its okay :) i'll find it somewhere else)
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Want to answer more questions in the Work & School category?
Maybe give some free advice about: Colleges & Universities?
It all depends on who your loans are from.
Where I live, there are standardized government loans. If you leave school without graduating, you have to pay back everything immediately, and you get charged credit card rates on it, whereas you get a grace period if you graduate and you don't pay interest during your schooling.
If you got them from a bank, it all depends on the individual lender. My friend has bank loans, and he's paying just the interest during his schooling, then when he leaves school he has to start making full payments.
If you leave before the second semester, you should be able to pay the loans back, since you haven't used that chunk yet.
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