Is my student financial aid gonna be garnished?
Here’s the situation. I have a substantial debt that I can not repay. Monday they froze our checking account. I am going to school in the fall; recieved a grant, scholarship and a loan to help pay for the costs. Can they take that too?
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No. However, if you have to apply for loans in the future to complete your education, you may be denied due to the default on your debt.
I can maybe see them not giving you the loan because of your credit state, depending on the source. For example, if it’s a direct loan you should be fine, but if it’s from say Sallie May there could be trouble. As for the grant you should be fine. Just be forewarned, anything that you get back in the form of a check, that supposed to be used for housing, books, ect, they may take. So if your school offers a book advance definitely take it to make sure you get the books you need. With the scholarship, it depends on who awards the scholarship and how it’s disbursed. If it’s payed directly to the school odds are you’ll be fine. Good luck and I hope things get better!