Will my financial aid change?
Will I receive the same financial aid package and scholarships at another college?
Move to a Teach-Out Institution:
If you transition to one of Stritch’s partnering Teach-Out institutions you can expect to pay similar tuition costs to attend. The scholarships and aid you receive at the Teach-Out institution may have different names or amount, but the portion of the tuition for which you are responsible should be the same or less than it would be at Stritch.
Transfer:
If you transfer to a partnering institution with whom Stritch does not have a Teach-Out Agreement, you will need to work with that institution’s Admission and Financial Aid Offices on your financial aid package.
Loan Information
What happens to my loans if I transfer to another institution?
If you choose to continue your education at a Teach-Out Institution, or transfer to a non-partnering institution, you will still be responsible for the student loans you borrowed for Cardinal Stritch University, so it is important to address them. While your new institution should automatically report your enrollment, you are responsible for following up. If you fail to do so, you could end up owing loan payments because your loan servicer(s) think(s) you are no longer enrolled. Make sure your loan servicer(s) are aware that you are enrolled at a new institution.
Even after transitioning to one of Cardinal Stritch University’s Teach-Out Institutions, or transferring to a non-partnering school, you are still responsible for repaying loans taken out to cover the costs of previous institutions. You should track all of the different loans you have taken out so you can plan for repayment upon graduation. You do not want anything to fall through the cracks when it comes time to repay your college loans.
Submitted FAFSA for ’23-’24
I sent my 2023-2024 FAFSA to Stritch, what do I do now?
You do not need to do a new FAFSA! You can go to https://studentaid.gov/h/apply-for-aid/fafsa.
- Under the “Returning User?” select “Add a school”
- Log-in with your FSA ID to add a different school. You are able to add up to 10.
Can I get my loans forgiven?
With Stritch closing after the Spring term, can I get my loans forgiven or discharged?
Loan forgiveness or discharge is a process where the obligation to pay back your entire, or a portion of your loan is removed. This is something that a student must apply for.
More information can be found at: https://studentaid.gov/manage-loans/forgiveness-cancellation/closed-school. Students must work directly with their loan servicer on this matter. Stritch is unable to provide assistance with this process. To find out who your loan servicer is, log-in to www.studentaid.gov.
Account Balance
Am I still responsible for my balance at Stritch?
Yes, you are legally required to pay any balance due.
Work Study
Can I get work study at my new school?
If you qualify for federal work study as part of your financial aid package, you can apply for work study jobs at your new institution.
VA Benefits
How will Stritch closing impact my Veteran (VA) Benefits?
If you receive VA benefits at Stritch, your benefits at another institution are likely to continue, but you should review your benefits with the VA representative at your future institution.
Taking Time Off
What happens if I take time off of school and/or withdraw from this semester?
If you are out of school for more than 6 months, you will most likely need to begin repaying your loans.
Additional Resources
What are some helpful US Department of Education Resources?
