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Question about deferred school loans and dropping out...

I'm seriously considering dropping out of Everest with the plans of going to a community college next fall (classes have already started this fall). But, I've heard that once I drop out instead of having the 6 months grace period, payments would begin immediately. I've also heard that if I go to another school the payments would continue to be deferred. Can someone explain how this would work?

Answer Question

Asked by kristinas8 at 7:16 PM on Sep. 28, 2009 in Money & Work

Level 8 (235 Credits)
Answers (2)
  • contact the financial aid dept of the new school you want to go with...they can usually transfer your student loans over to them....

    Answer by blueeyedgrl2377 at 7:17 PM on Sep. 28, 2009

  • For-profit schools often have contracts that are difficult to break. You may need a lawyer to help you.

    Answer by rkoloms at 6:26 AM on Sep. 29, 2009

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