I just transferred undergraduate schools and still have some student loans from my previous school (Sallie Mae and Federal Direct loans). Is there some sort of clearing house that my new enrollment status will be sent to so that the loan agencies know that I haven’t just stopped going to school (and thus cause my loan payments to become due)? Or must I obtain enrollment verification from my current school and send it to each loan agency myself?
Although most lenders find out if you transfer schools, it’s best not to wait to hear from them, as they may have you in repayment status, and if you go too long without making a payment, you’ll default which will ruin your chances of federal aid in the future.
Best thing to do is call each loan servicer, inform them that you changed educational institutions, and ask if they need you to provide anything to them to keep your loans in good standing with them.
Try this site
http://free-college-information-usa.blogspot.com/
Free College information on financial aid for students, scholarship, student loans and more.
March 8th, 2010 at 12:39 am
Although most lenders find out if you transfer schools, it’s best not to wait to hear from them, as they may have you in repayment status, and if you go too long without making a payment, you’ll default which will ruin your chances of federal aid in the future.
Best thing to do is call each loan servicer, inform them that you changed educational institutions, and ask if they need you to provide anything to them to keep your loans in good standing with them.
Try this site
http://free-college-information-usa.blogspot.com/
Free College information on financial aid for students, scholarship, student loans and more.
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