Facts about the consequences of withdrawing/taking a QTR off from school:
It takes longer to graduate
The money you would have made based on $35,000 per year you lose by still continuing school and not being a part of the work force
The three months you are out of school for the “break” you lose three months of your grace period on your loan so when you graduate you have three months instead of six to start payments. If you take more breaks you will not have a grace period and will have to start payment on your loans immediately upon graduation
When you withdraw from a class you pay for that class and pay again to retake it and it also extends your graduation date
Must re-apply for financial aid
May not be eligible for alternative loans again due to changes in credit
It takes longer to graduate
The money you would have made based on $35,000 per year you lose by still continuing school and not being a part of the work force
The three months you are out of school for the “break” you lose three months of your grace period on your loan so when you graduate you have three months instead of six to start payments. If you take more breaks you will not have a grace period and will have to start payment on your loans immediately upon graduation
When you withdraw from a class you pay for that class and pay again to retake it and it also extends your graduation date
Must re-apply for financial aid
May not be eligible for alternative loans again due to changes in credit
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