I'm considering applying for the Disney College Program and was wondering if participating in it lets you defer student loans. Would love to hear if anyone has experience with this and how it affects repayment.
The Disney College Program is indeed classified as an internship, and participation could potentially allow you to defer student loan repayments. However, this largely depends on the type of student loan you have and the terms that come with it.
The rules for deferring loan payments typically require that you are either enrolled at least half-time in an eligible college or career school, or you're within six months after you graduate or leave school. Since the Disney College Program offers college credit for some participants, your university may still consider you as enrolled during your participation. It's also important to note that not all types of student loans offer deferment options, so it's key to confirm with your specific loan holder.
The best course of action would be to connect directly with your student loan provider and your university's financial aid office. They'll be able to provide the most accurate information for your specific situation.
As an additional point, remember that interest usually continues to accrue on your loans during deferment, which could increase the overall amount you end up paying. So, while deferment could ease financial strain in the short term, keep in mind the potential long-term implications. Consider all aspects before making your decision.
Lastly, the Disney College Program might have its own scholarship or financial aid programs which could potentially help you throughout your program, and it might be worth checking out.
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