wanting to change colleges after accepting award letter

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wanting to change colleges after accepting award letter

Postby mstila1113 » Thu Apr 11, 2013 9:16 pm

I am supposed to start school in June. I have accepted my award letter but I am interested in another school. Will there be any problems with my loans if I decide to attend the other school? Do I have to sign another MPN for the new school? How do I go about cancelling the loans from the previous school?
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Re: wanting to change colleges after accepting award letter

Postby Aid Whiz » Tue Apr 16, 2013 1:41 pm

Financial aid is school-specific, and aid cannot "transfer" per se. Instead, your new school will need to calculate your eligibility for aid, and award you based on their calculations. This could be the same at both schools for federal aid, but not necessarily.

To receive aid at your new school, you need to first update your FAFSA with their school code, or if that has been completed, accept enrollment and your financial aid package by contacting the school's financial aid office.

To cancel aid at your original school, contact their financial aid office. They may ask you to formally withdraw or have other paperwork for you at that time.
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Re: wanting to change colleges after accepting award letter

Postby mstila1113 » Tue Apr 16, 2013 2:20 pm

Thank you :)
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Re: wanting to change colleges after accepting award letter

Postby charliee » Sat May 11, 2013 12:12 pm

Financial aid rules and regulations vary from school to school. If you want to change your old school, it's fine. Go and check what kind of loan will be available there in your new school. Apply for a loan.
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