I took out a loan last semester and the second half of the loan will arrive at the school on the 28th of january (in 5 days) but i withdrew from classes this semester. Can I still go and pick up the other half of the loan or does it get sent back to the lender automatically?
What happens to my student loan if I withdraw from classes this semester?
The loan would likely be used to pay the portion of tuition you still owe for this semester (just because you withdraw doesn't always mean you still don't have to pay at least a portion of your tuition). Call your school to be sure.
What happens next would depend on if you withdrew from all your classes or just part of them. In six months you'll need to start paying both loans back.
Good luck.
EDIT: Then the money will get sent back to the lender. You are not eligible to get a student loan if you are not a student. Sorry. :-(
What happens to my student loan if I withdraw from classes this semester?
If you went under part-time...my school won't give me the check. 6 credits
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