Student loan question

If anyone could offer some info, I would appreciate it. I am walking for graduation this May, but I will not be a graduate from my program until September. I am doing a full-time internship in a hospital over the summer, but it's only 3 credits. I just got notification that my student loans will become due the end of this May. The loans that this was for was for undergrad. I had taken some time off of school and started paying them off, but they went back into deferment when I went back to school. I am not going to be a full time student, but I won't be able to work either. DH thought I was supposed to get 6 months to find a job. I think they won't do that for these loans since I stopped school before and had that 6 months. I am confused and they are not open today for me to call. I was planning on calling Monday. I would hate to do forebarance (sp?), but I don't know what other choice I would have. Think if I explained the situation they would be able to do something? Has anyone else gotten a master's that extended into the summer? How did you handle the student loans?

I am really nervous about this. I don't have extra money to give out while I won't be working.

Re: Student loan question

Did you consolidate? Ifg so, you have up your deferment period. If not, you should have 6 months before they come due. Definitely call them up and get ti straightened out. It mayjust be a clerical error. When you take time off and go back sometimes they are uinclear about your graduation date.

Re: Student loan question

It may be because you are taking less than 6 credits. At my school whenever I was taking less than 6 credits, I had to complete a form that basically said even though I was only taking 3 credits I was spending the remainder of my time doing internship/dissertation/whatever. The form was approved by the dean of my school and then submitted to the registrar so they could change my status to part-time. Then I completed a deferment form which I sent to my bank. So, there may be the same form at your school. I would check with your program or registrar.

in regard to your other question about the 6 month grace period, did you ever consolidate your loans? I know that when I did, I forfeited the grace period so my loans will be coming due immediately upon graduation. If that wasn't the case, ask the bank about it.

HTH.

Re: Student loan question

Re: Student loan question

I believe it's the less than 6 credits. I did not qualify for Sallie Mae on my last semester last year because I had 5 credits so I could not have a student loan for that semester.

Full time is 12 credits +, 6-11 credits is part-time.

Although I did not have to pay until the 6 months grace period after I graduated regardless of the number of credit in my last semester.

If you are with Sallie Mae, you need to stay on top of things. They get "creative".

Message edited 3/31/2007 5:53:56 PM.