What happens if my student loan is more than my tuition?

If you borrowed more than what you need, you can return the leftover student loan money to the lender to reduce the amount you owe. The college financial aid office can help you do this. You also have the option of keeping the leftover student loan money.

How long does a student have after graduating before they have to start repaying their student loans?

For most federal student loan types, after you graduate, leave school, or drop below half-time enrollment, you have a six-month grace period (sometimes nine months for Perkins Loans) before you must begin making payments. This grace period gives you time to get financially settled and to select your repayment plan.

What happens when you graduate from college with debt?

When students graduate with debt, they will likely continue to add to their debt with interest. As such, it can take many years before they manage to dig themselves out of debt that only seems to keep growing.

Is it OK to go back to school after college?

Yes, let me repeat, it will all be OK. Whether you’re planning to continue your education or jump into the workforce, take some time to consider your future. Depending on the type of person you are, the time you’ll need may range from a few days to a few years.

Who are the new majority of college students?

The new student majority consists of non- or post-traditional students. These are students who juggle their studies with work or caregiving responsibilities, who commute, who received an uneven high school education, who are among the first in their family to attend college, and who, in growing numbers, speak English as a second language.

Can a graduate student move to a new state?

What’s more, a couple moving together to a new state doesn’t have it easy, either. When Wright moved from Arkansas to Florida as a graduate student, he and his wife filed a “declaration of domicile” as soon as they arrived in the Sunshine State.