I’m in college and am totally unhappy where I am. I would like to drop out this semester and attend a different school for a nursing program in the spring. Of course, if I drop out I lose my scholarships, but am I also penalized from applying and recieving student loans for the spring? If so, how long is the penalty period?
Chosen Answer:
If you stayed at the same school, they would have some sort of policy for financial aid in respect to grades. So if you drop out, they are likely going to make you go through some process before they give you financial aid again or maybe not at all. However, if you are going to attend another school, it might not matter besides the fact that the school will want to see your transcript and dropping out in the middle of the semester will not look good. If you can avoid giving them the transcript, then it won’t matter, but being as you received a loan, the government knows you attended school there so it could be found out easily if someone looked.
Dropping out has consequences, but you can work around them. Talk to an advisor and the financial aid office. To perhaps find them more helpful, suggest you might come back next semester but you’re just SO busy right now. They’ll be more likely to help you out if they think you’re still a student.