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Welcome to StudentFinAidInfo
Question: Can a loan through FAFSA cover costs?
my moms credit isnt the best but I need extra college $-do FAFSA loans tend to be LESS then private loans, as far as, the amount there willing to lend? Or can it cover it?
thanks-and if it's not enough are there any other forms of financial assistance?
You have a maximum you may borrow with a federal Stafford ...
You have a maximum you may borrow with a federal Stafford Loan (either through Direct Lending (right through the school) or FFELP (you choose your own lender)) as an undergrad.
The max amounts are: $3500 freshmen, $4500 sophomore, and $5500 junior/senior. If your mom applies for a PLUS (parent loan for undergraduate students) loan and is denied, then you may borrow an additional $4000 (fresh/soph) or $5000 (jun/senior) Unsubsidized Stafford Loan.
So to answer your question - it depends on what your COA (Cost of Attendance) is and what type of aid you may already be receiving. In some cases it can cover it; in others additional money might be needed.
Talk to a financial aid officer at your school for more information. Good luck!
There are two sources for student loans -- the federal ...
There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In mostyou can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.
Question: What if I want to apply to more than the 10 schools that I can put on my FAFSA?
The online application seems to allow you to only put ten but I'm thinking of applying to more than 10. What should I do?
You cannot. You may only choose 10. At some point if you ...
You cannot. You may only choose 10. At some point if you know that you would not be attending one of the college you put down, you can change out schools.
You can contact 1-800-4-FED-AID (1-800-433-3243) for more information. Good luck!
Question: What if I put a school I am considering in my FAFSA but I decided later on not to apply to that school?
you can log on FAFSA at any time and change the information
u can log on FAFSA at any time and change the information
It doesn't matter, unless you didn't put the school ...
It doesn't matter, unless you didn't put the school you end up going to on the FAFSA.
It doesn't matter - - if you don't go to the school ...
It doesn't matter - - if you don't go to the school your FAFSA was sent you they'll just shred the information...be sure to forward your FAFSA onto the college you've decided to go to!
You can list up to ten schools on your FAFSA. If you arent ...
You can list up to ten schools on your FAFSA. If you arent going to that school you do nothing. The schools get yours info whether or not you apply to them.
You can log back in and update your information. But as ...
You can log back in and update your information. But as long as you have the schools you will definitely apply to on there, you will be fine. Just make sure the school you choose to go to is on the FAFSA form so they can send any aid they are able to give to you!
That's okay. You can add as many schools as you want to ...
That's okay. You can add as many schools as you want to the FAFSA. They will get the information, but if you haven't applied they won't do anything with it. Better to add them now so that there aren't any delays later on down the road.
Nothing will happen. If you get any information from the ...
Nothing will happen. If you get any information from the unwanted school, just throw it away.
Question: Is it better to get a loan through FAFSA or a private loan company?
And can I get how the FAFSA process kinda works
It all depends on what kind of loans you can get through ...
It all depends on what kind of loans you can get through your FAFSA. You can always apply for the loans through FAFSA and if you don't like what you see after you compare to your other lenders you can just decline to receive them. From experience FAFSA was the way to go for me because FAFSA held off all payments and interest until I graduated. It will also depend on your parents' income or your age to see if they will allow you to qualify for the loans. With some luck you may even get a Pell grant and you won't have to pay that money back.
Don't do private loan company. They have higher fees, ...
Don't do private loan company. They have higher fees, higher interest rates and higher fees. You have to pass a credit check or have a cosigner... neither of which you have to do for a federal loan. Some of the loans qualify for the government to pay the interest while you are still in college.
go to www. FAFSA. ed. gov and it explains everything.
The federal loans are much better in terms of interest rates ...
The federal loans are much better in terms of interest rates and payment options.
You always want to exhaust your options for federal grants and loans before you try doing private loans.
The process: you fill out the FAFSA form with your ...
The process: you fill out the FAFSA form with your information (if you have worked), your parent/guardians financial information, and the schools you are applying and llikely to get into. Once you submit it, the Federal government states how much money you and your family will be required to pay, also known as you EFC (Expected Family Contirbution). The government send that to the Universities you listed. The schools in turn create a financial aid package. Some private schools require you to fill out a CSS profile to take into account your parents/guardians investments, home equity (if any). Anywhooo...I would recommend getting any loans from the federal government (which is approved based on your FAFSA). As someone else mentioned....there interest rates are lower than private. Once you graduate from college, there is a 6 month waiting period until you begin to pay it off. Compared to private loans, most require you to pay them off at once.
There are a variety of Federal Loans: Perkins Loans (these loans can be forgiven if you work with low socioeconomic communities [e.g. teachers, doctors, lawyers, etc.]), Stafford Loans. While you may have borrowed your max as an undergrad, the aggregate borrowing limit is increased for grad. students. You can usually get close to $20,000 a year on Federal Stafford Loans (Subsidized - interest accures after you graduate; Unsubsidized - interests accure while you are in school - use this one as a last resource).
I have attached website....that I havent been able to update. and I forgot sign in information... hope this helps.
FAFSA
FAFSA
There are two sources for student loans -- the federal ...
There are two sources for student loans -- the federal government and private lenders. In order to obtain most federal student loans, you will first need to file the Free Application for Federal Student Aid (FAFSA). In mostyou can combine all of your eligible federal student loans into one loan with a Federal Consolidation Loan. Consolidating also locks the interest rate you pay on your loan.
Question: FAFSA, Corrections, EFC?
Hi thank you for your time.
I am a sophmore at George Mason, and just completed 08-09 FAFSA. My EFC was 2215.
Not having filed taxes, I reported 0 for a lot of the financial questions (mostly mine) while also using parents 2006 Taxes as estimates for similar financial questions.
I did this in hopes of making corrections ASAP, probably when parents do their 2007 taxes.
My questions is, have I made a mistake that is too late to change? Is EFC and other student aid and priority aid going to change alot once I fill in the corrections?
The EFC sounds about right. I pay instate tution w/o housing, about 6-7k a year. Both of parents do not work. I would definitely would not consider us rich. My father had a 50k/year job most his life and mom does not work. My brother just also graduated the same school.
Based on your financial situation you should put yourself as ...
Based on your financial situation you should put yourself as more of the poorer on the FAFSA. If you live with them then use their data, If by yourself go solely on what you make a year. The less you make the more eligible you are for government grants/loans/scholarships.
Your efc will prob change some when you put in the correct ...
Your efc will prob change some when you put in the correct data after you and your parents do your taxes. No, it is not too late to make corrections.
Good luck.
It depends. First, you did right by completing the FAFSA ...
It depends. First, you did right by completing the FAFSA with the information you had, and then will update after your parent's taxes are filled out. You need to get your information to the school by the priority deadline, and you did.
If you haven't been already, the school may select you for Verification. At that point you wouldn't have any choice but to provide yours and your parent's 2007 tax returns.
Income wise - if 2007 looked like 2006 then you probably wouldn't have much difference in EFC.
However, I'm interested in the part where you said your brother just graduated from the same school. The FAFSA asks how many people are in your family and of those how many are attending college. Is your brother going to attend grad school? If not, then with only one in college instead of two, your EFC may go up.
Talk to a financial aid officer at your school for more information. Good luck!
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