Can I Enroll in College if I Owe Money?

Question:If I owe student loans, can I still go to college? Even if it's after the six month period? I owe $2,900 but can't pay it off right now, and I really want to go back to a state college. Any information would be helpful.




Answers:
Congratulations on deciding to go back to school, that is a decision that you will not regret! To answer your question accurately I would like to clarify, are these Federal Student Loans or Private Student Loans? Also, how long have you been in Repayment status or did you just come out of your Grace Period?

The nice thing about Federal Student Loans is the Federal Benefits that come with the Federal Student Loans. For example, your Federal Student Loans have unlimited in school deferment time, which means as long as you are at least a halftime student attending school you do not have to make your payments on your Federal Student Loans.

You can re-enroll in school no matter how much Student Loan debt you may have. The good thing about your personal situation is, you appear to not have taken out your total amount allowed for Financial Aid; not only can you re-enroll in school, but you can also apply for additional Financial Aid if you need it. The only way you would be unable to take out any more Financial Aid is if you were to go into Default for not making your payments, or if you had taken out the total amount allowed.

For more information on Federal Student Loan cap amounts as well as more information about Federal Student Loans in general please see the source below.
Depending on the type of loan you can usually get a student deferment when you're enrolled full time (for some loans its just more than 1/2 time). You might be compounding interest while you're not paying, but at least you won't owe anything and can concentrate on school. But, until you go back to school and the deferment goes into effect don't miss a single payment. If you default on the loan you can get in loads of trouble.
I have defaulted student loans and was still allowed to reenroll, I'm just not allowed to get any more student loan money until I pay off the default.
If you're not in default you should be able to get your loans re-deferred and only pay the interest you owe. Call the Office of Financial Aid at your intended school and ask them; they'll be helpful to you.
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