what happens if you have a student loan and dont do your course... or if you do (sincerely do your course to futher your ed).. adn don't get it finished?
Not a good idea at all. If you do not finish a course you might be considered a no show student and be dropped half way through the quarter which would require you to repay some financial aid. You will also not be able to live off of student loans after tuition is covered, it is not that much money. If you don't pass at least 2/3rd of your course work you loose financial aid eligiblity so not attending classes would fit this category pretty quickly and you can not declair bankrupcy on student loans, they can even take your social security checks after you retire if you have not paid your student loans.
If you don't finish, they don't renew aid for the following semester. But it depends. You would have to drop out of all your classes, not just skip one.
With-in the first 2 weeks of a course you can drop it without having to pay the loan. If you completely drop out of college befroe finishing the course you won't have to pay the loan back, but you wo't be able to get another loan for the next sememster either.
Talk to a financial aid counselor to get the exact information on the amount of time you have to drop out and not have to pay.
The drop date varies by college. Typically the drop/add period matches up with the last day to give back financial aid.
After that, you must be making satisfactory academic progress in order to keep your financial aid. That means if your GPA drops because you aren't in school, you lose it. If you bail on all your classes and receive Fs midway through, you may lose part or all of your aid mid-semester... and it won't be renewed till you're making SAP again.
You also can't file for bankruptcy and absolve all financial aid debts. Financial aid can only be forgiven for death or permanent and total disability.
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