Enrollment Changes

A change in your student status could greatly affect your student aid. Depending on the type of aid you're receiving as a graduate or doctoral student, you could lose part or all of your financial aid, or be forced to repay it if your enrollment status drops to part time or less than half time.

As a full-time student, you must be enrolled a certain number of hours to maintain your student status. Losing full-time status can affect your financial aid in different ways.

Assistantships
If you have a teaching or research assistantship, your contract may have specified that you must maintain a certain student status. If so, a change in status at any time during the academic year can affect your assistantship. Assistantships can also be examined on a semester-by-semester basis, and you should speak with your department chair right away if you need to change your enrollment status.

Loans
If you begin attending school less than half time, the grace period will begin for your Stafford Loan repayment. During your grace period, you should receive information on loan repayment, and you will be expected to begin making payments even if you can't find a job during the grace period. You should contact your lender right away if you realize you won't be able to make loan payments on time. In some circumstances, it may be possible to have your grace period extended. For personal loans, the rules and responsibilities may be slightly different. Contact your financial aid office or private lending institution for repayment information options. 

Grants
You may be required to repay some grant money if you received funding for full-time enrollment and attend only part time. Even a temporary leave from school could impact your grant funds, so contact your school's financial aid department in advance if you're thinking about making a student status change.

Scholarships
Your scholarship's specific terms should detail what a change in student status could mean. Scholarships may not have specific provisions regarding full-time or part-time student status or repayment requirements in the event of a student status change, but you should read the fine print or contact the scholarship provider for specific details of your award. 
 
Contact your financial aid office for specific information on how student status can affect your financial aid.