What happens to my educational loan if I drop out of college?
If I drop out of college, my educational loan doesn't just disappear. Instead, I'll enter a grace period that typically lasts six months, after which I must start repaying the loan. However, my repayment options might be limited compared to those who graduate. If I default on the loan, it could have serious repercussions on my credit score. It's crucial to contact the loan provider immediately to understand any potential consequences and explore possible repayment plans.
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