Is it possible to transfer a student loan from one school to another school?

I just found out my school I閳ユ獫e been going to for the past quarter is not accredited for the degree I'm pursuing. They failed to tell me that little fact. I found out through the grapevine, and then confirmed it with the Academic office. Turns out that's true.

So now I want to get out, and go to a better school down the street..that just so happens to be a cheaper and IS accredited.

My question is...I took already took out a Federal Stafford Loan with this school, will it transfer with me to the other school? Or will I need to cancel this one and start a new one at the new school. And can I even start a new one if I had one already?

Is it possible to transfer a student loan from one school to another school?

You'll need to add the new school to your FAFSA and go through their application and financial aid process. At your current school, you'll need to go through the official withdrawal process. Make sure you double check with the financial aid office as they may have a separate form that you'll need to fill out to cancel your awards for the year. Your new school won't be able to process your loans until they do so. Also, always contact your lender when you change schools, enrollment status, etc so they can notate it in their system.

Is it possible to transfer a student loan from one school to another school?

You should speak with the financial aid office at the new school.. I am guessing it won't matter one way or the other.

Is it possible to transfer a student loan from one school to another school?

Yes, you will have to add your new schools code on your fafsa. But what happens next really depends on how much of the fin aid you already received. If your old school is on quarters and this new school is on something different...you could have a problem. You could ask your old school for what time frame (Get specific dates) the fin aid was for. You are then obligated to attend the unaccredited school during that time. You can't transfer your loan or your money in the middle of a semester.

Good Luck