Quantcast

Loan agreement

This forum made possible through the generous support of SDN members, donors, and sponsors. Thank you.

trouta

Senior Member
7+ Year Member
15+ Year Member
Joined
Apr 4, 2002
Messages
502
Reaction score
5

Members don't see this ad.
So... i am on the waitlist at the school I really want to go to. However I am holding an acceptance at another school. That school has just sent me their aid package and is asking for my agreement to various loans.

Anyone know what happens if I sign for these loans and then get in off the waitlist at the other school and want to go there?
 

trouta

Senior Member
7+ Year Member
15+ Year Member
Joined
Apr 4, 2002
Messages
502
Reaction score
5
bump

ANYONE KNOW ANYTHING ABOUT THIS???
 

mpp

SDN Moderator
Moderator Emeritus
15+ Year Member
Joined
Jan 18, 2001
Messages
3,403
Reaction score
27
I think you will be alright. Until you actually receive the money, you don't owe anything. Call the school's financial aid office and ask.
 

electra

SDN Moderator
7+ Year Member
15+ Year Member
Joined
Apr 20, 2001
Messages
475
Reaction score
0
If you get in off the waitlist, you will need to notify your other school IN WRITING as quickly as you can, because the loans that the FAO has ordered for you will have to be cancelled and reinstated at your new school. You might also make sure that your favored school already has your tax return/FAFSA, etc, as your processing may be held up. Make sure that you have two months of living expenses ready to start school with, as your loans may be late in getting in if you change at a late date.
 
Top