Leaving Program After it Began?

[futurespeechpath1]

I really want to get into one of the schools I am currently on the waitlist for but I've already committed to Lewis which starts June 1st. As far as I know the waitlist rolls once a month at the school I want to go too, so technically I would only be on it for 2 months before officially being a graduate student. I understand the $500 deposit would be forfeited since that was non-refundable. However, if I take out student loans for the summer term would the loans follow me to that graduate program and just accumulate on to the other debt? Or would I have to pay the loans right when I take them out and they'll just keep accumulating interest until I do? 

I know it would be easier if I just gave up hope on that school but I really want to attend so badly. I am happy I got into programs, but this is my #1 choice for graduate school.

[bibliophile222]

If you wait to accept your loan package at the first school and don't register for classes until you absolutely have to, then you can keep the loans untouched and they won't start accruing interest. I haven't been in your situation, so I'm not positive how it would work, but my guess would be that if you don't register or use any of the loan money, then it could transfer over to the other school. You might want to talk to someone at FAFSA to make sure, though.

[sarahslp2020]

this is a good question! I am interested in knowing the answer as well

[futurespeechpath1]

6 hours ago, bibliophile222 said:

If you wait to accept your loan package at the first school and don't register for classes until you absolutely have to, then you can keep the loans untouched and they won't start accruing interest. I haven't been in your situation, so I'm not positive how it would work, but my guess would be that if you don't register or use any of the loan money, then it could transfer over to the other school. You might want to talk to someone at FAFSA to make sure, though.

I contacted FAFSA they told me to contact the university but I don't want to do that since I don't want to get on their bad side in the chance I have to stay there. I'm putting off registration and accepting financial aide till the last possible second for now.

[futurespeechpath1]

Okay so I contacted financial aid at my university about the loans question and they said the loans would just add on to the loans you take out at the university you transfer too.