My nephew is in grad school in Boston and decided to change his major and change schools since he was just notified he was accepted at another school he applied for. He is currently taking 6 credits and recieving a student loan for this Fall semester 10k. He is going from a Major of History to Law School (he will make more $$ for sure).
He was going to just stop attending 3/4 way of the semester. If he does chances are he will get an "I" (incomplete) grade for his 2 classes or possibly an F . His Fin Aid office told him that the grade he gets is irrelevant as long as he is registered and doesnt actuall get a "W" for withdraw
Anyway, I am curious what you guys think
Full Version: Does an "INCOMPLETE" grades effect student loans?
QUOTE(lovedoc @ Nov 24 2007, 07:25 PM) 
My nephew is in grad school and decided to change his major and change schools since he was just notified he was accepted at another school he applied for. He is currently taking 6 credits and recieving a student loan for this Fall semester 10k. He is going from a Major of History to Law (he will make more $$ for sure).
He was going to just stop attending middle of the semester. If he does chances are he will get an "I" (incomplete) grade for his 2 classes or possibly an F . His Fin Aid office told him that the grade he gets is irrelevant as long as he is registered and doesnt actuall get a "W" for withdraw/
I dont want him to get a letter in a couple months having to repay those federal loans he got for school and advised him to just finish the semester.
Anyway, I am curious what you guys thing
He was going to just stop attending middle of the semester. If he does chances are he will get an "I" (incomplete) grade for his 2 classes or possibly an F . His Fin Aid office told him that the grade he gets is irrelevant as long as he is registered and doesnt actuall get a "W" for withdraw/
I dont want him to get a letter in a couple months having to repay those federal loans he got for school and advised him to just finish the semester.
Anyway, I am curious what you guys thing
Not attending classes and not withdrawing is NOT a good idea. His law school will be entitled to his transcript from this school and Incompletes and F's will not look good. (The current school will be listed on his financial aid transcipt.) Without completing the the semester he would automatically be placed on financial aid probation for lack of academic progress.
thats basically what I tild him, he thinks because he was already accepted at law school he is ok........dumb kids, what can we do with them
As someone with a great deal of experience in this subject... (as an expert with years of experience in the field of undergraduate courses exhibiting incomplete, withdrawal, or failure marks, I can assure you, you have nothing to worry about.
For enrolling in a course, the act of registering is what determines whether or not course credit is granted. The only exception to this is if one is withdrawn from the course, perhaps(?) -- I wouldn't know, as at some point I seemed to even sink to the level of being too pathetic to bother taking the 2 minutes to withdraw from the courses I knew I was guaranteed to fail in by junior year.
All I know is, I have a 1.34 GPA, and as long as I get that up to a 1.5 or greater, I'm set. I have way more course credit than is necessary to graduate with, and perhaps only a couple of courses I haven't taken that are required to be taken (such requirements to graduate do require meeting a C- or better, at least at my school).
Rest assured: I am "a full time student" even though I took 3 courses and am about to withdraw from all three. Knowing this does not affect the student loan deferment date, and that W's do not affect my GPA, I am mainly doing it as I needed to extend my father's health insurance to me, and this makes that possible. Added perk: student loans are deferred an extra year (I still plan on finishing, by going next semester for real).
Of course, it's not ideal... and, most "incompletes" turn to F's largely because the student builds up the importance of the paper's significance to irrational levels-- so much so it is overwhelming to him/her and it is never completed due to the anxiety that results.
moral of story: don't be me, but, you're fine
For enrolling in a course, the act of registering is what determines whether or not course credit is granted. The only exception to this is if one is withdrawn from the course, perhaps(?) -- I wouldn't know, as at some point I seemed to even sink to the level of being too pathetic to bother taking the 2 minutes to withdraw from the courses I knew I was guaranteed to fail in by junior year.
All I know is, I have a 1.34 GPA, and as long as I get that up to a 1.5 or greater, I'm set. I have way more course credit than is necessary to graduate with, and perhaps only a couple of courses I haven't taken that are required to be taken (such requirements to graduate do require meeting a C- or better, at least at my school).
Rest assured: I am "a full time student" even though I took 3 courses and am about to withdraw from all three. Knowing this does not affect the student loan deferment date, and that W's do not affect my GPA, I am mainly doing it as I needed to extend my father's health insurance to me, and this makes that possible. Added perk: student loans are deferred an extra year (I still plan on finishing, by going next semester for real).
Of course, it's not ideal... and, most "incompletes" turn to F's largely because the student builds up the importance of the paper's significance to irrational levels-- so much so it is overwhelming to him/her and it is never completed due to the anxiety that results.
moral of story: don't be me, but, you're fine
QUOTE(selfrepairer @ Nov 25 2007, 02:16 AM)
As someone with a great deal of experience in this subject... (as an expert with years of experience in the field of undergraduate courses exhibiting incomplete, withdrawal, or failure marks, I can assure you, you have nothing to worry about.
For enrolling in a course, the act of registering is what determines whether or not course credit is granted. The only exception to this is if one is withdrawn from the course, perhaps(?) -- I wouldn't know, as at some point I seemed to even sink to the level of being too pathetic to bother taking the 2 minutes to withdraw from the courses I knew I was guaranteed to fail in by junior year.
All I know is, I have a 1.34 GPA, and as long as I get that up to a 1.5 or greater, I'm set. I have way more course credit than is necessary to graduate with, and perhaps only a couple of courses I haven't taken that are required to be taken (such requirements to graduate do require meeting a C- or better, at least at my school).
Rest assured: I am "a full time student" even though I took 3 courses and am about to withdraw from all three. Knowing this does not affect the student loan deferment date, and that W's do not affect my GPA, I am mainly doing it as I needed to extend my father's health insurance to me, and this makes that possible. Added perk: student loans are deferred an extra year (I still plan on finishing, by going next semester for real).
Of course, it's not ideal... and, most "incompletes" turn to F's largely because the student builds up the importance of the paper's significance to irrational levels-- so much so it is overwhelming to him/her and it is never completed due to the anxiety that results.
moral of story: don't be me, but, you're fine
For enrolling in a course, the act of registering is what determines whether or not course credit is granted. The only exception to this is if one is withdrawn from the course, perhaps(?) -- I wouldn't know, as at some point I seemed to even sink to the level of being too pathetic to bother taking the 2 minutes to withdraw from the courses I knew I was guaranteed to fail in by junior year.
All I know is, I have a 1.34 GPA, and as long as I get that up to a 1.5 or greater, I'm set. I have way more course credit than is necessary to graduate with, and perhaps only a couple of courses I haven't taken that are required to be taken (such requirements to graduate do require meeting a C- or better, at least at my school).
Rest assured: I am "a full time student" even though I took 3 courses and am about to withdraw from all three. Knowing this does not affect the student loan deferment date, and that W's do not affect my GPA, I am mainly doing it as I needed to extend my father's health insurance to me, and this makes that possible. Added perk: student loans are deferred an extra year (I still plan on finishing, by going next semester for real).
Of course, it's not ideal... and, most "incompletes" turn to F's largely because the student builds up the importance of the paper's significance to irrational levels-- so much so it is overwhelming to him/her and it is never completed due to the anxiety that results.
moral of story: don't be me, but, you're fine
Wow, interesting.....
QUOTE(selfrepairer @ Nov 24 2007, 11:16 PM)
As someone with a great deal of experience in this subject... (as an expert with years of experience in the field of undergraduate courses exhibiting incomplete, withdrawal, or failure marks, I can assure you, you have nothing to worry about.
What selfrepairer said, except that many schools have limits to units attempted, etc. (so-called "progress probation")
I have more Ws than most people have taken college classes, back from the days when there was literally zero cost to same (except for textbook and time, because there wasn't even tuition cost for community college back then).
My school requires passing 50% of all units attempted, and currently I'm at 52.9%. Then again, I've already got two graduate degrees, and I am just futzing about for fun. (I'm currently keeping my loans in deferment while paying one down, not getting new loans.)
Yes thanks for the tip.....He really doesnt care any more about that school or its policy because he is not continuing there and going to a new school and major in Jan. His worry was possibly having to repay the loan for failing or getting an Incomplete
But it sounds like that wont happen,
PErsonally I would like to see him at least pass the classes though, never know when the grades will turn up on some transcript
But it sounds like that wont happen,
PErsonally I would like to see him at least pass the classes though, never know when the grades will turn up on some transcript
QUOTE(lovedoc @ Nov 26 2007, 10:38 PM)
His worry was possibly having to repay the loan for failing or getting an Incomplete
But it sounds like that wont happen,
PErsonally I would like to see him at least pass the classes though, never know when the grades will turn up on some transcript
But it sounds like that wont happen,
PErsonally I would like to see him at least pass the classes though, never know when the grades will turn up on some transcript
Wait, are you under the assumption that just because your nephew stopped going to classes and gets I's or F's he won't have to repay his loan? I think there is something totally wrong with that assumption. The only way he wouldn't have to pay back that loan would be if the school refunded the tuition and the money was given back to the lender. He will have to pay back this loan regardless if he finishes the semester with straight A's or withdraws.
If I am mistaken in my interpretation of your post, please correct me; but I do believe he will have to repay the 10k. (it would be possible to get a refund for dropped classes, but not this late in the semester)
Lynn is right, SAP.
Satisfactory Academic Progress.
Without it, your aid eligibility (grants, loans, some scholarships even) is shot.
Damn kids...
Satisfactory Academic Progress.
Without it, your aid eligibility (grants, loans, some scholarships even) is shot.
Damn kids...
QUOTE(lovedoc @ Nov 27 2007, 12:38 AM)
Yes thanks for the tip.....He really doesnt care any more about that school or its policy because he is not continuing there and going to a new school and major in Jan. His worry was possibly having to repay the loan for failing or getting an Incomplete
But it sounds like that wont happen,
PErsonally I would like to see him at least pass the classes though, never know when the grades will turn up on some transcript
But it sounds like that wont happen,
PErsonally I would like to see him at least pass the classes though, never know when the grades will turn up on some transcript
He DOES have to repay that loan no matter what. Period.
Once he passes the drop date of the school, he is in the withdraw period. Withdraw period has a decreasing refund percentage that eventually reaches 0%.
I bet at this point, the refund for withdrawal (if he can even still withdraw) is 0%, which means the school bill will charge him $XXXX and his loan will be credited (or already has been credited) towards that bill.
He does have to repay that loan, whether he attends the school or not.
That would be like saying I can stop paying my car loan because I parked my car on some random street one day and never used it again!
Also, his future school could easily revoke his admissions status simply because he tanked at this school, and that's especially true if both schools are "Public Institutions" and in the same state.
To your nephew, tread lightly padawan, the force is weak within you...
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