How to get a High Risk Personal Loans?

Going to school and need to debate about dropping class and paying back student loans?

• Alright so here is the situation I have $5000 in student loans with a 6 month grace period where at any given time i dont have to go to school but after i breach that 6 months of no school or minimum of 6 hours of school. I used my 6 months but then registered for a minimum of 6 hours of classes and so i didnt have to pay back my loans, but one of the classes didnt work with my schedule so i have this class but have never gone because i couldnt. Should i drop the class and go for an incomplete and risk paying off my student loans or should i get an F and avoid the risk?>

• Answer:

  Every semester, teachers turn in to the administration the names of kids who enroll, but never show up to class. Your teacher has likely reported you MIA.... which will then get reported to the enrollment office which will then report to the loan company. They will update/backdate your "date of last half time enrollment". (It doens't mean your class was dropped, or that you don't owe on the class. It just means that you never showed up). The loan company will then demand back payments for the 6 months (or whatever) time frame you were suppose to be paying but didn't ... up front, (in one lump sum) with penalties. It may take a bit for this system to "catch up", sometimes there is a bit of a time lag... but it WILL be discovered and reported eventually. Either way you are going to have to pay on the loans... it's kind of a mute point now. Better you know about it now and start sending /saving the money now so you can pay what you owe. That way the "surprise" phone call after a few months won't be as tough to make right, after you THOUGHT you found a glitch in the system.... Sorry dude. good luck.