Loan acceptance question

[soitgoes32]

I was accepted at one school and waitlisted at another that I would prefer to go to. I'm was emailed my financial aid package at the school I'm accepted to and told I have 30 days to accept or decline it. Does anyone know if i am allowed to leave a school for another acceptance if I accept a loan elsewhere. Thanks!

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[BrawnsNBrain]

My understanding is as long as the loan amount is not disbursed, you are fine to leave. I'm not sure if any penalty fees etc are involved, but I would doubt it seeing as fees are typically charged once the loan is disbursed.

My best advice is just call the school and ask (probably best to not identify yourself in the phone call)

 

[soitgoes32]

Thanks for the advice!