Enrollment Changes

It's always a good idea to consider how a change in your student status will affect your financial aid.

You must be enrolled in a certain number of hours to maintain full-time status. If you leave school or if you need to take fewer classes and your enrollment status drops to half time or less than half time, you could receive less financial aid or lose it completely, or you may need to repay grant money you have already received or begin your loan repayment plan. Contact your financial aid office for more specific information.

Loans
If your student status drops below half time, the grace period will begin for your Stafford Loan repayment. Check with your financial aid office for repayment information about your other loans. During your grace period, you should receive information on loan repayment. You are expected to begin making payments even if you can't find a job during the grace period. Contact your lender 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, contact your private lending institution for repayment information options.

Grants
Your eligibility for grant funding depends on your student status as well as the amount of time you spend in class. If you drop below full-time status, your grant money may be reduced or eliminated completely. Even a temporary leave from school could invalidate your grant funds. You may also be required to repay some grant money if you received full-time grant funding and attended school part time.

Scholarships
Depending on the terms of your scholarship, a change in your student status could drastically affect your scholarship status. Scholarships may not have specific provisions about full-time or part-time student status or repayment requirements when you leave school, but you should read the fine print or contact the scholarship provider for specific details of your award.