accepting fin. aid/signing promissory notes - am I committing?

[kdburton]

I'm still waiting to hear back from my state school, but I've been accepted elsewhere and have been turning in the necessary paperwork to keep me on track for starting there in the fall. If I accept different student loans and sign promissory notes for them am I committing to go to that school or is it just something that can be cancelled before it gets disbursed if I end up getting into my state school? The deadlines aren't tomorrow or anything, but I just want to get everything out of the way so I don't forget to sign anything.

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[postbacker]

I would NOT sign and submit contracts until you are 100 percent committed...what are the deadlnes?

 

[alwaysaangel]

If loans are never dispersed you don't owe anything. Also you can't have loans dispersed until you go through entrance interviews at your school, etc. etc. etc.

You can sign the notes and submit before you pick a school, its not binding until you go through a lot more than just the promissory note.

 

[Crazy4F1]

i was told by georgetown to fill out and submit everything, but skip the federal promissory note until after april 15 and until after i'd picked the one school i was definetly going to. the rest of the forms, copies of tax returns, etc, send in.

 

[alwaysaangel]

Heres two old posts about this:

http://forums.studentdoctor.net/sho...&highlight=master+promissory+note#post3430584

http://forums.studentdoctor.net/showthread.php?t=206402

So it looks like its no big deal to cancel later if you get off a waitlist. Considering some schools require it to get your financial aid package in the first place I don't see how it could commit you to a single school.

 

[DoctorPLASTIC]

i was told by georgetown to fill out and submit everything, but skip the federal promissory note until after april 15 and until after i'd picked the one school i was definetly going to. the rest of the forms, copies of tax returns, etc, send in.

You are right crazy. HE^ is not.