Dropping out of the school that I am currently attending is pretty inevitable at this point. I went to this school for all of the wrong reasons. I feel very stressed out and behind and mentally, I am not in the greatest place. I take full responsibility for this. I haven't paid for college with any grants but I do have $5,500.00 in Stafford loans in my name and about $9,000.00 in Parent PLUS loans and I did apply for the six month grace period on each of these loans as well as deferment on the Parent PLUS loan while I'm in school.
I plan to drop out after I receive my loan disbursement in a couple of weeks because I do have certain living expenses that are dependent on that money and I would like to keep any extra money earmarked for living expenses so that I don't have to take out more loans for next semester and pay another disbursement fee. I know that you aren't necessarily supposed to do that but financially, it makes better sense.
I need to know if dropping out voids the grace period. It seems like it wouldn't but I am no expert. I will be out of school for a maximum of about two months and will re-enter the program that I should have gone into to begin with in January, but there is no way that I could foreseeably pay back any loan payments during that period because I will be moving from New York to Georgia.
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