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Some of what you face is water under the bridge. Some is to be determined by the actions you take going forward.
You are doing poorly in college. Presumably you are in your first semester of your first year. Question #1), have you sought counseling from professors and counselors as to the explanations of your poor performance. Take it from me, that first semester is hard on MANY students. Mine was an academic disaster. I had a lot of maturing to do and I nearly buried myself. So until you did this exercise of trying to explain the factors that are leading to your misery, I would not fold the tent for financial reasons or for the simple reason that with a few changes you mind end up loving college.
Question #2) You are not prepared and you are miserable. Explain both in detail.
Q#3) You have $15,000 in loans. Your options are written into the loan contract. If you leave after one term, you will likely receive money back for the second-term.
Q#4) You mention going back to a tech school. Does this mean that there is no major there that you like and that only at the tech school will there be a match? Explain.
Q#5) You mention the idea of going to an "easier smaller college." Why would that be so in this day and age of needing only to fog a mirror to get a Gentleman's C at virtually every school. Please explain.
Allow me to read between the lines. You feel you made a terrible mistake. The idea of a large debt preys on the mind. You wish to escape. You are distracted for some reason (perhaps boyfriend/girlfriend) is elsewhere so you are putting in 10% effort into classes or you miss your buddies at home and are tempted by getting some skill to get a job right away. But there is this $15K cloud over your head.
My advice? Finish out this semester. Try to get at least one good grade on the transcript for your own sanity and to prove to yourself you can achieve. Think hard about the questions above. DO not decide on paying for semester two until you have had time to mull over things and have gone home for Christmas. Paying late fees are trivial.
And by all means, do not make decisions based on fear or cowardice but rather on putting yourself on the path for a life that you actually want to live beyond 5 years from now and beyond.
$15k and you've only just started! You say you've actually spent only $7k on this semester - return the rest. I would recommend going to a less expensive school while you figure out what academic and/or career path is right for you. Best of luck.
Just asking but what went wrong? Drink too much beer?
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