When you transfer to the other school and additional moneies sent to the prior school should be returned to the lender of the loans. Make sure that you stay on top of the school that you are leaving to make sure any overages are paid back to the lender. In most cases schools do return the money to the lender but there have been instances where the school did not return the money to the lender. By staying on top of this situation you will ensure that any money not used for your education is refunded to the lender thus lowering your total loan amount.
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