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+--- Thread: Did I make a mistake? (/Thread-Did-I-make-a-mistake)
Did I make a mistake? - studyandpass5 - 09-04-2019
Financial aid question here:
I just accepted my financial aid for the October term (taking Network Technology and Statistics).
From what I'm understanding, based on the Master Promissory Note I had to complete, there's a 6 month grace period before I have to repay the loans. But, they also say, "The grace period begins the day after you cease to be enrolled at least half-time at an eligible school."
Does being enrolled half-time include transfers from Study.com or Straighterline? My plan was to take these two TESU courses, transfer in the rest of my SDC and SL classes (around 6 more courses), then take the capstone by itself. But is this considered half-time? If not, would I have to start repaying on the loan 6 months after I complete the TESU courses (which would be end of June 2020)?
What has everyone else's experience been?? I'm also planning on calling the financial aid office tomorrow. Is there a way to take back my acceptance of financial aid if my thinking is correct?
RE: Did I make a mistake? - Ideas - 09-05-2019
That's not half-time when you're taking the capstone by itself. That is just 3 credits and you need 6 credits to be half-time. The ACE credits don't count for that.
RE: Did I make a mistake? - udi - 09-05-2019
(09-04-2019, 10:05 PM)studyandpass5 Wrote: Financial aid question here:
I just accepted my financial aid for the October term (taking Network Technology and Statistics).
From what I'm understanding, based on the Master Promissory Note I had to complete, there's a 6 month grace period before I have to repay the loans. But, they also say, "The grace period begins the day after you cease to be enrolled at least half-time at an eligible school."
Does being enrolled half-time include transfers from Study.com or Straighterline? My plan was to take these two TESU courses, transfer in the rest of my SDC and SL classes (around 6 more courses), then take the capstone by itself. But is this considered half-time? If not, would I have to start repaying on the loan 6 months after I complete the TESU courses (which would be end of June 2020)?
What has everyone else's experience been?? I'm also planning on calling the financial aid office tomorrow. Is there a way to take back my acceptance of financial aid if my thinking is correct?
If you cannot pay, you can apply for income based repayment. If your income is low enough, your minimum payment can be zero. Financial aid or the loan servicer can help you with this.