I am trying to transfer to a new college. I have a federal student loan that requires 12 credits per disbursement. If I transfer to the new college and the loan is transferred too, won't I still meet loan credit requirements, just not at the original school?
just not that
Favorite Answer
Your loan doesn't come from the school it comes from a student loan lender. So it doesn't "transfer" so to speak..So to transfer, you just get on the fafsa website and click (Add a School Code) and add your new school. Contact your lender and tell them you are transferring and to where and let them know you still want to continue to borrow with them.
They may require you to prove you are enrolled. As long as you transfer to a school they approve (generally as long as it's accredited by a regional accrediting entity) then you don't have to start repaying until you drop below half time or graduate.
To keep things simple for you, try to keep the same lender throughout your borrowing years, that way you don't accidental loose track of one and THINK you are paying on all of them when you graduate but you lost one somewhere along the way.