I received this email three times yesterday, which is lite for this time of year “I transferred schools but I am going to be full time in the fall so please fix my status.”
To borrower a trick from our myths, here is what you think happens vs what actually happens. What you think happens is that because you have enrolled or intend to enroll full time you can keep your loans out of repayment.
What actually happens in this situation is if you leave one school and have not yet began classes at another school, you will lose this status until you do. And if you have used your 6 month grace period up (you only get one per loan), you will find yourself with payments to make.
What is also important to note here is that due to processing time and school’s waiting till after add/drop to officially decide statuses is it can take approximately a month from the time you begin taking classes for your status to update.
Bottom line, when you are at a new school for the first time, it doesn’t matter when you enroll, it matters when your butt is officially in the seat taking classes!