Information for Students who are Transferring, Re-enrolling, or Separating from School
Transfer student
If you transfer to another school and are enrolled at least half-time, you will need to file an In-School deferment to keep your loans from going into repayment. You can obtain an In-School deferment form at www.amsa.com or by calling ASA at 1.866.493.5563. Your lender will process an In-School Deferment request based on any of the following:
- – Your application and documentation verifying that you will enroll in another school
- – The lender’s receipt of a school certification of eligibility in connection with a new loan from your new school, or
- – The lender’s receipt of student status information indicating that you are enrolled at least half-time in your new school
You may also need to file Summer Bridge deferments every summer until you graduate, separate from school permanently, or drop below half-time enrollment. Ask your lender if they will require this. Contact ASA for information on filing a Summer Bridge Deferment.
If you are transferring, re-enrolling, or separating from school permanently, you can request a Student Loan Checklist customized for your situation by calling a Student Loan Specialist at 1.866.493.5563.
Re-enrolling
In-school deferment
When you leave school, you begin using your grace period, a 6-month period during which no payments are due that starts when you drop below half-time enrollment in school. If your grace period expires before you return to school at least half-time, you will need to begin repaying your student loans. If you need to make payments and can’t afford to, you may have options to reduce or postpone these payments if you meet certain criteria. Even if you cannot afford to pay, do not ignore these bills! Contact ASA to discuss your options! Call or e-mail a specialist at 1.866.493.5563 or information@amsa.com to discuss options like postponing your payments with a deferment or forbearance, or reducing your monthly payments by changing your repayment schedule or consolidating your loans.
When you return to school, an in-school deferment will postpone your student loan payments while you are enrolled in school at least half-time. You can download a copy of the in-school deferment form here, or contact a specialist to have one sent to you. Complete sections one through three of the form. Read the form completely, and make sure you understand your rights and responsibilities under this deferment. Have your school complete section four, and submit the completed form to your servicer. If you have trouble contacting your servicer, please call ASA at 1.866.493.5563 for help.
Separating
If you are leaving school permanently, get the career, job search, and personal finance information you need to succeed. Sign up for the Journeys Online e-Newsletter. To read the current issue, visit www.journeysonline.org.
