I’ve done very poorly this school year and I’m a first year student. My academic standing was not accessed because I attempted less than 4.0 credits. I received a letter from the national student loans service center telling me I have to repay my loans already, thing is I know I’ve done really bad. I want to resume school and avoid probation/suspension; but I have to pay my loans first before enrolling. Can I take time off of school and repay my loans first, and then return to school where they access my academic standing. Or is it not possible to take time off, or else it affects my GPA further?
so, what i’m guessing happened is that you weren’t able to complete any credits this year. the NSLSC treated that as if you had been away from school for a year, and is now saying that you need to repay the loans, because according to them, you’ve been “out of school.”
if that is the case, i would speak with a financial advisor at utm to see what you can do about the situation. it may be possible to communicate to the NSLSC that you want to continue in school next year, and explain what your plans are to improve your academic standing. in that case, you could come back to school on OSAP, and not be required to start paying it back immediately. but speak with the advisor to be sure, because they are experts in this stuff, where aska is what you might call an amateur advisor.
what i’m saying is coming back to school on OSAP may not be possible in your case, so speak with the experts to find out the best next steps.
if you do indeed need to take time off to repay your loan before continuing at school, that’s a-okay. you are free to take as much time off school as you need to; all you have to do is not sign up for courses! it won’t affect your GPA. your academic record will stay the same until you return. GPA’s don’t have a half-life; they don’t deteriorate while you’re away from school.
whatever happens with your OSAP repayment, taking time off may even be a good choice, academically. time off from school gives you – well, time – to reflect on whether uoft is the best path for you, what your goals are, and, if you’d like to return, what changes you can make to ensure that you’re successful. sometimes time is the best decision-maker. if the time comes when you feel ready to come back, re-registration is a very simple process.