Need Help with Student Loans and Financial Aid?
Asked by InquisitI am desperately in need of help in finding money for college. I am currently working and find it a bit hard to work and attend school at the same time. Can you help me with loans? What types of loans are there? How much can I borrow? My current living condition is about 600 rent and 100 on gas. I can eat rice and noodles for all I care, I just need to survive while I go and get my degree. I am a hard worker and not ashamed to do anything to get money, except for stealing, that's just selfish and immoral. Besides that, anything goes. Please give me some advice on Loans. Can you survive on student loans while you go to college and still have a roof over your head? Please please share your thoughts.
Favorite Answer
Answered by $1200 mistake
The first thing you need to do is go onto the official Free Application for Federal Student Aid website, or FAFSA on the web. Here is the link: www.fafsa.ed.gov/index.htm The website is very simple to use and won't take long once you have gathered some information. There is a worksheet that you start with, and then you will need additional info like your School's Code and Tax Returns. Do this in a hurry, the deadline is Sept. 15th! You will be assigned a pin number that you can only get by mail as well, so be sure to do this immediately. Once your online application is complete, FAFSA will send your info to your school and they will determine what your total financial aid package is. In order to get the maximum aid, you must enroll in whatver is considered to be full-time coursework at your school. Standard would be 12 units, or the equivalent thereof if you are on a quarter or trimester system. You must be enrolled in at least half-time to get any aid at all. They will prorate. You may have some income from a job, but your aid may be reduced according to how much you make. If you are still considered a legal dependent of your parents they may still use their income even if you don't live at home. Once you hit a certain age then it doesn't matter anymore. The website will answer most of your questions for you as you fill out the form. If you don't have time to fill out the whole form, you can save a partially completed form, so it is best to get started right away. Your aid package will likely be comprised of grants (which do not have to be repaid) and loans (which do have to be repaid). You have the option of taking or refusing the loans. You may find that you get enough aid to get by with a part-time job, and won't need the loans. There are different types of loans as well, and you need to read up on them when they are offered. Some loans have interest subsidies, where the government pays the interest due on yur loan while you're in school. Unsubsidized loans accrue interest the whole time you are in school, even though payments are deferred. you will not go into repayment on any loans until you drop below half-time in school. Go to your financial aid office as well and ask about other programs that you can apply for like work study or scolarships. A financial aid counselor is probably available on a walk-in basis and can review your specific situation and offer advice for you. Good luck and go apply immediately!
The first thing you need to do is go onto the official Free Application for Federal Student Aid website, or FAFSA on the web. Here is the link: www.fafsa.ed.gov/index.htm The website is very simple to use and won't take long once you have gathered some information. There is a worksheet that you start with, and then you will need additional info like your School's Code and Tax Returns. Do this in a hurry, the deadline is Sept. 15th! You will be assigned a pin number that you can only get by mail as well, so be sure to do this immediately. Once your online application is complete, FAFSA will send your info to your school and they will determine what your total financial aid package is. In order to get the maximum aid, you must enroll in whatver is considered to be full-time coursework at your school. Standard would be 12 units, or the equivalent thereof if you are on a quarter or trimester system. You must be enrolled in at least half-time to get any aid at all. They will prorate. You may have some income from a job, but your aid may be reduced according to how much you make. If you are still considered a legal dependent of your parents they may still use their income even if you don't live at home. Once you hit a certain age then it doesn't matter anymore. The website will answer most of your questions for you as you fill out the form. If you don't have time to fill out the whole form, you can save a partially completed form, so it is best to get started right away. Your aid package will likely be comprised of grants (which do not have to be repaid) and loans (which do have to be repaid). You have the option of taking or refusing the loans. You may find that you get enough aid to get by with a part-time job, and won't need the loans. There are different types of loans as well, and you need to read up on them when they are offered. Some loans have interest subsidies, where the government pays the interest due on yur loan while you're in school. Unsubsidized loans accrue interest the whole time you are in school, even though payments are deferred. you will not go into repayment on any loans until you drop below half-time in school. Go to your financial aid office as well and ask about other programs that you can apply for like work study or scolarships. A financial aid counselor is probably available on a walk-in basis and can review your specific situation and offer advice for you. Good luck and go apply immediately!
