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Can you decline a Stafford Loan once you have sent in the paperwork?

Discussion in 'Pre-Medical - MD' started by TSpoon, Mar 5, 2002.

  1. TSpoon

    TSpoon Member

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    Hello,
    I'm just finishing out my paperwork for loans etc and I have a question about declining a loan in one state if I decide later on in the summer to go to a different school in another state.

    For example filling out all the paper work for school X which I've been accepted to, but then in July being pulled off of a waitlist for school Y. Can I just call my lenders from school X and decline the loan since it hasn't been disbursed yet?

    Thanks for any info :p
     
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  3. trout

    trout Senior Member

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    Yeah and you can actually keep part and decline part you will get a "package" from the school and you will do it then
     
  4. lilycat

    Moderator Emeritus

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    Even if you apply for aid and loans, you are not bound to anything until you have received your first disbursement (check). You can also choose to only take part of the money that you are approved for.
     

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