Important question regarding Loans

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dedicated2be

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Hey All,

I have been accepted to 2 schools. I paid the deposit for the first school earlier (since I was accepted earlier) and am still trying to decide between the first school and second recent school I was accepted to. However for the first school, they have sent me a financial aid award and requested that I accept and apply for loans within the next week or so.

If I apply for loans both federal unsubsidized and gradPLUS at the first school, and later decide to attend a different school, how will I do the loans for the second school? Meaning can they be canceled at the first school and then transferred to the other one? I am sure there has to be some answer for this since I've heard of many people getting pulled off of waitlists and changing schools last minute etc, so they would have already applied for loans and aid at the previous institution. Please help! Thanks

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You can fill out fafsa to include both schools. Just like you prob did with undergrad.
 
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If you fill out FAFSA (which is what in assuming the school that offered you FA is asking for) that info will be good for whatever school you go to. Each schools financial aid dept will arrange the info transfer.
 
I already filled out FAFSA for one school. That one school has offered me Financial aid. My question is that if I accept their aid right now, but later on decide to attend a different school, will my aid be okay?

Meaning can I cancel the aid at this school and still be eligible for loans and a different school? Hope this makes sense...
 
I already filled out FAFSA for one school. That one school has offered me Financial aid. My question is that if I accept their aid right now, but later on decide to attend a different school, will my aid be okay?

Meaning can I cancel the aid at this school and still be eligible for loans and a different school? Hope this makes sense...

Just log back in and add the other school to your FAFSA. Accepting the award offer from the first school is just saying that you approve the use of the loans if you go there. If you don't, and attend the other school, the first school doesn't collect money. It's not like you'll get billed for tuition at both schools or anything.
 
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