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Flunked college with Loans

GraffyGraffy Posts: 1Registered User New Member
So I just recently flunked out of college after 3 semesters. I was using the loans through the school so the Federal Direct student loans (subsidized and unsubsidized) and the Federal Direct Parent loans.

It hasn't yet registered that I'm disqualified on the school websites.

My question is what is going to happen? Are my parents going to have to start paying it off immediately and am I as well separately? Do we have to contact the school to set up how it's going to be paid off or will they contact us?

Any information would be very helpful.
Post edited by Graffy on

Replies to: Flunked college with Loans

  • 4kidsdad4kidsdad Posts: 4,269Registered User Senior Member
    Repayment of Direct loans will start 6 months (grace period) after your student status is dropping below half time. See Direct Loans?Graduating or Leaving School
    Do we have to contact the school to set up how it's going to be paid off or will they contact us?
    It's better you contact the school to find out who is your loan servicer.
  • kelsmomkelsmom Posts: 13,486Super Moderator Senior Member
    Go to www.nsdls.ed.gov. You will be able to see all of your loans, including the servicer information. Your school will report your last day of attendance to the servicer, and you will have to start paying on your loans 6 months after you either drop below half time or leave school (not sure whether or not you stayed full time in your final semester ...). It is a good idea to contact your school's aid office to discuss your situation.
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