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I am transferring to Cleveland State and have a Federal Stafford Loan with my current school. Can the remaining loan money for this year be transferred to Cleveland State?

April 26, 2017cleveland state Federal loan money remaining School Stafford transferring

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I am transferring to Cleveland State and have a Federal Stafford Loan with my current school. Can the remaining loan money for this year be transferred to Cleveland State?

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No, the remainder of your loan must be cancelled so that Cleveland State can originate a new loan for you. You must notify your school in writing that you are transferring to another school and would like to have the remainder of your loan cancelled. Be sure to notify your loan guarantor and report any changes in the anticipated graduation date. Once the remainder of the loan is cancelled, we can process a new loan through Cleveland State.