Student Loans????

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I have a couple of questions regarding loans and schloarships.

Here is some background info.

I want to transfer to transfer to a less expensive college in the winter term. So I would be leaving my current school after this month, having just earning my associate degree in computer/information security. My grace period (to my best knowledge) would start in Sept-March (6months).

1. So if I attend school in the winter at the other school and pay up front, would my loans halt since I am in school with the grace perid or would I have to pay them back after the grace period while attending another school?

2. If I were to earn a scholarship/grant, could I apply that towards my loan debt?

Any help would be apprecaitedtowards some of my decisions in this matter!!!!

Student Loans????

If I understand your question, I think I am in a good position to answer.

As long as the school you are transferring to is accredited--or to simplify things, as long as the school you are transferring to is set up to receive federal funds you WILL NOT GO INTO REPAYMENT. You won't go into repayment until after you complete your degree or withdraw (and there is probably some fine print stuff I am not familiar with).

If you got a scholarship that paid you cash, you could use it as you pleased, but it would have to be huge money otherwise you'd have to take out debt to pay for the remainder of your education, and then what would be the point. If you are worried about debt (and you should be), and you are lucky enough to get a scholarship, use it to pay tuition and expenses and save anything left over (that debt isn't going anywhere and you have a grace period before interest comes due assuming all your debt is currently in subsidized Staffords).

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Student Loans????

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