How Drug Convictions Affect Student Loans – U.S. News & World Report
- February 5, 2021
- By: Greenpath Financial Wellness
GreenPath shares with U.S. News and World Report Student Loan Ranger steps people can take to determine if they are eligible for federal student aid after a drug-related conviction.
Are you ready to move forward with your education? Hoping to go back to college to prepare for a successful next step – yet a drug or criminal conviction is a stumbling block in financing that education?
A federal or state conviction for possession of illegal drugs, conspiring to sell them or selling them may disqualify you from receiving federal student aid, including grants and new student loans. But that doesn’t mean federal educational financing is completely off the table. Pell Grants, Federal Supplemental Educational Opportunity Grants, federal work-study and federal student loans may be obtained if you know what to do and where to turn for information to see if you qualify.[/vc_column_text][/vc_column][/vc_row]
Understanding Your Options
If enough time has passed, a drug conviction may not be an issue at all. However, if it is, there may be actions you can take.
- Make a Change to Regain Aid Eligibility
- Understand How Long Aid Ineligibility May Last
- Look Into Reversing the Conviction
- Research Other Funding Options
A good place to start exploring your options is to work with a nonprofit counseling agency.
As a free service, GreenPath’s experts can walk you through your options when managing your student loan debt. 91% of people served by GreenPath feel better prepared to handle their finances. Together let’s make a plan for managing your full financial picture to support your goals.