My cousin just went away to college yesterday, and decided that he hates it so much, he convinced his parents to pick him up today (Classes start Mon) and just enroll in the local community college instead.
However, his loans (Federal Sub and Unsub funds) have already been disbursed to the orginal school. How long does the process take of sending the loan funds back, so that he can reapply them at the community college?
My aunt does not have $ to pay out of pocket, so is it likely that the new school will let him register with the financial aid in place, or will he run into a problem into a problem his other loans are cancelled?
I'm pretty sure that it's a law that you can only receive aid at my school in a term, so that's where I think he might have an issue...any advice is appreciated!
However, his loans (Federal Sub and Unsub funds) have already been disbursed to the orginal school. How long does the process take of sending the loan funds back, so that he can reapply them at the community college?
My aunt does not have $ to pay out of pocket, so is it likely that the new school will let him register with the financial aid in place, or will he run into a problem into a problem his other loans are cancelled?
I'm pretty sure that it's a law that you can only receive aid at my school in a term, so that's where I think he might have an issue...any advice is appreciated!