Help about LOANS !!!

  1. Hey im new to this site it very interesting well i plan on going to college soon for rn.... Well i went to a vocational school for medical assisting but the school I went to shut down so im really starting from the beginning.... I got a loan and i haven't paid it off will i still be able to attend a community college since i do have a loan?
  2. Visit j518279 profile page

    About j518279

    Joined: Jan '13; Posts: 2


  3. by   CareQueen
    Yes you will. Since you didn't receive a degree previously, you should be eligible for all types of financial aid that the school provides as long as you enter a degree or certificate program (i.e.-the ADN program) and as long as you are in school at least half-time and maintaining satisfactory academic progress (i.e-not failing/withdrawing from courses). While in school at least half-time, you will be eligible for deferment of your previous and subsequent school loans until 6 months after you either graduate, or drop below a half-time course load.

    I hope this helps, but I think the best way to find all of this info out would be to contact the community college's financial aid office. They can offer you advice that will reflect's their school's guidelines and will also be tailored to your specific situation.
  4. by   j518279
    Thanks i just wanted to make sure... The school i went to is getting closed Doreen for many trains look it up ATI TRAINING SCHOOL IN DALLAS TX !!! Its horrible
  5. by   crymsyndiva
    have you made any payments on your loans? if you havent made a payment in close to 2 years you could go into default and be ineligable for aid until you get yourself current. Go to the NSLDS website and check.
  6. by   CareQueen
    Now that I think about it further, you may not have to pay that loan back at all. The William D. Ford loans stipulations specifically say that you may be eligible for discharge/cancellation if your school closed in the process of you completing a program of study.

    Here is the exception made by the William D. Ford Federal Direct Loan Program
    Direct Subsidized Loan and Direct Unsubsidized Loan Borrower's Rights and Responsibilities Statement:

    21. Discharge (having your loan forgiven). We will discharge (forgive) your loan if:
     You die. The Direct Loan Servicing Center must receive acceptable documentation of your death, as defined in the Act.
     Your loan is discharged in bankruptcy. However, federal student loans are not automatically discharged if you file for bankruptcy. In order to have your loan discharged in bankruptcy, you must prove to the bankruptcy court that repaying the loan would cause undue hardship.
     You become totally and permanently disabled (as defined in the Act) and meet certain other requirements.
    In certain cases, we may also discharge all or a portion of your loan if:
     You could not complete a program of study because the school closed;
     Your loan eligibility was falsely certified by the school;
     A loan in your name was falsely certified as a result of a crime of identity theft; or
     The school did not pay a refund of your loan money that it was required to pay under federal regulations."

    So if you have a federal loan and you were made to stop going to school BECAUSE the school closed, this would apply. Visit for more info.

    However, if you have private loans, the rights may be different. Read your promissory note!!