Student Loans/student loan


Hi. I really hope you can answer this question. I'm in school for massage therapy and its 11 months. Its been two months and I want to drop out but the person in charge of loans said I can't drop the class. She said if I do I'm going to have to pay the loan. Is there any way I can do it? I'm thinking about getting my lawyer involved.

Hi there

I'm afraid not and getting a lawyer will only be a waste of time and money.  Federal student loans are highly regulated and those regulations require you to go into repayment on your loan six months after you leave school or drop below a half time status.  When you signed the loan, you agreed to repay it even if you did not finish or were not satisfied with the program of study for which the loan was for.  Check the copy of the note you have right above the signature line for as well as the rest of the terms and conditions.

In addition to the loan, you may also owe the school for tuition charges.  Check their refund policy - it's likely on their website but if not they are required to give it to you if you ask for it.

If you do drop out after the two months, it's possible that some of the loan will be refunded - but you will absolutely owe at least some of it.

I'm sorry I don't have better news for you.  If you are unhappy, you may be better off dropping now rather than incurring more loans.

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I can answer any questions about federal student loans and many about private student loans. I can also answer questions about other types of financial aid. I am not a financial planner or attorney so cannot give investment or legal opinions.


I have worked in the student loan industry for over 15 years - primarily in the compliance area. I also work with borrowers with particularly complicated issues. I had a column answering financial aid questions in several newspapers for seven years and have appeared in several radio and television segments on student loans and financial aid. I have given presentations all over the world on the US financial aid programs.

National Council of Student Loan Programs Massachusetts Association of Student Financial Aid Administrators

Boston Metro Washington Post Express various industry blogs and newsletters

BS in Business Communications.

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