Cancelled student loan question?
I was scheduled to go to University of Phoenix (here in CA) but later “dropped out” because my mother got really sick. I didn’t even show up for the first day of class. The stafford unsub. loan was for $ 4,000 and NSLDS.ED.GOV has it down as CANCELLED. Is that amount still subtracted from the ammount the government said I am entitled to (in student loans)?Unfortunately, because you did not attend University of Phoenix, the student loans you were entitled to are no longer available, which was why they were cancelled. If you signed up for classes and the loan money paid out, and afterwards you dropped out and the loan was cancelled, you will be required to return the loan money. If you dropped out before the loan paid out, then you don’t really need to do anything, because you didn’t receive any money. Loan money only pays out if you are enrolled in classes. If you’re unsure either way, contact the University of Phoenix’s financial aid office and they’ll be able to give you further advice. Hope this helps, Financial aid advisor, 2 years
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I just completed FSA student exit counseling; What’s the next step?
I completed my bachelor’s degree at the end of August and subsequently received an email from the university saying I had to complete FSA student exit counseling. I followed the link provided in the email (www.nslds.ed.gov) and completed the exit counseling for the university. After I completed it, I went back to the same link and completed exit counseling for the only other college listed, the community college that I first attended in 2009 before transferring to the 4-year university. At the end of both exit counseling sessions, it said, “Congratulations you have successfully completed exit counseling for your federal student loans”. I did this about 2 weeks ago, and I still haven’t received any other confirmation. The Direct Loan Servicing site and the NSLDS site still show that I’m in school till 2020. My question is, now that I’ve completed FSA student exit counseling, what is my next step? I want to see how much my monthly payments will be, where I will make payments, etc. I borrowed approximately $ 18,000 is federal stafford loans, mostly subsidized, and I’m thinking my monthly payments (5 1/2 months from now) will be around $ 240/month, but I’m not sure. Thanks in advance!You need to get into contact with the lender to answer those questions. Generally, they will not send you anything until your college reports that you are no longer enrolled. That can take a month or so.
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