StudentFinAidInfo - Financial Aid FAQ For Continuing Education, Earned Income Affect On Aid

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Question: Financial aid question for continuing education?
I went to a private college for 3 years, tuition was insane. FISA covered barely half of tuition and I had to make insane amounts of loans. Overwhelmed by what I owed, I eventually dropped out. My grades were par, and dropping out really killed it. I'm looking to start fresh and get started, just wondering if financial aid will still provide coverage or am I on own?

Answer: You are on your own.

You are on your own.

Question: If college instructor has you removed from class due to absences How does that effect you financial aid?
the reason why I want to know is because I have had to miss due to personal reasons.

Answer: Financial Aid is very strict on attendence. You best call ...

Financial Aid is very strict on attendence. You best call them and tell them your situation ASAP or they will drop you.

Answer: I believe you need some kind of a documentation. From a ...

I believe you need some kind of a documentation. From a Lawyer or doctors note to make it offical.

Answer: One class won't effect it. If you continue to miss ...

One class won't effect it. If you continue to miss classes and get dropped from school for the semester they will probably revoke aid. Also, if you drop from full time to part time it will probably be revoked.

Answer: Are you dropped from the class in time and will not receive ...

Are you dropped from the class in time and will not receive a grade? If so than as long as you are still carrying enough hours you should be fine. if not then you may need to pick up a mid sem class to catch up. If you receive a failing grade in a class, you can not receive financial aid for that class again. Better to drop than receive an F.

Question: Financial aid question?
I have been told I am eligible for a subsidized federal direct loan. Is it true that this means the federal government pays the interest? If not, then what is the advantage over a regular loan? Finally, what is the difference between subsidized and unsubsidized? Thanks

Answer: you don't have to pay the interest until you have been ...

you don't have to pay the interest until you have been out of school for 6 months, then you start to pay your loan back with interest, other wise if you pay it back as you go to school, it will be interest free.

Answer: Are you a Canadian? If so a subsidized federal loan means ...

Are you a Canadian? If so a subsidized federal loan means that the funds you receive from the gov?t are coming directly from the federal government (instead of being an integrated federal-provincial loan). This means that while you are attending full time studies (60%+) course load your loans will be in an interest free status. Once you leave studies you have a six month grace period in which your loan does accrue interest, but you don?t have to make a payment until the seventh month. You are also eligible while in repayment status to apply for programs such as interest relief, and debt reduction.

Question: Not finding a solution to the "aid" in financial aid?
i have been told by different places that I make too much money to qualify for financial aid. This is ridicules as I don't even make 20k a year. I cant use parents since I'm already married and husband is having the same problem. Where can I go for aid? Everything that borrows money for school has a high interest rate or checks credit.( credit was ruined by mother-in-law behind back. I am in the process of fixing credit) is there anything or anywhere that can help me? I want to go back to school but finding that no one is willing to help and the government doesn't care either. I am completely lost as I don't have good credit to fall back on. Anyone with some information would be completely helpful to me. I really want to back to school!

Answer: Ouch, sounds like a tough situation! I guess your ...

Ouch, sounds like a tough situation! I guess your husband's income is being counted in the FAFSA calculations so there won't be any federal assistance. Several of friends got started at local community colleges and transferred over to public universities after two years - they saved a lot of money and still got a good education & good jobs afterward. The best bet is to keep costs as low as possible and find scholarships that match your individual eligibility: http://freecollegeblog.com/2007/11/05/find-scholarships-that-match-your-eligibility/ There are definitely scholarships for students who are returning to school after a break, and scholarships for just about every major you can think of or club you might belong to. Its good that you filled out a FAFSA, but now get ready to apply for a dozen or more scholarships - aim for the local ones and ones with more eligibility criteria that you match - they'll have the least competition. Every little bit helps too, so don't discount the $500 here or $1,000 there you might be able to apply for.

Answer: Anyone can qualify for financial "aid" from the ...

Anyone can qualify for financial "aid" from the government in the form of low interest student loans regardless of income. Stafford loans are great in that you don't have to start paying on them until after you graduate and in some situations can be forgiven (like if you become a teacher, law enforcement, head start worker, and others... I'll attach the link). You do not have to have to pass a credit check or have a cosigner to get Stafford loans. Scholarships are always a possibility. Be sure you apply for lots of them and meet all the deadlines. Good luck.

Question: If I get a job, will that affect my financial aid?
Right now, the estimated contribution is $0. If I get a job, will that lessen financial aid (Pell Grant) The job will probably be a low job. A job like in Wal-Mart or any other supermarket.

Answer: no it shouldnt because you wont be making that much

no it shouldnt because you wont be making that much

Answer: It won't effect your amount at all for the 08-09 school ...

It won't effect your amount at all for the 08-09 school year. Once you file your 08 taxes and complete a new FAFSA, then it MAY effect your EFC. Like the earlier answerer said, it won't be by much and it will make your life a lot easier in the meantime.

Answer: Yes, if you get a job it may reduce your Pell grant award. ...

Yes, if you get a job it may reduce your Pell grant award. You can earn some without it counting against you, but I would suggest federal Work Study instead. Work study can be a part of your financial aid package. It is a regular job (usually on campus) but the money you earn does not count against you when you apply for fin aid the next year. Since you are getting a full pell grant, you will likely qualify for the full Work study amount as well. Its usually about 15 to 20 hours a week. Good luck.

Question: Can I buy a car with my financial aid check?
Once I send off fasfa how long will it take for financial aid check to come back? Could I buy myself a car(not new, used) with some of that money? Im moving out of parents house sometime after graduation in may but I dont want to move until I have own car. Im saving for a car and apartment now but ill need a lil help thats y I want to use financial aid check. When will it come back, will it be long?

Answer: Applying for financial aid is a process that takes weeks, ...

Applying for financial aid is a process that takes weeks, sometimes months, depending on the school and how quickly you are able to turn documents into them. Generally the school will not send any money out (if you are eligible to receive extra money) until a few weeks after the semester starts. There is a flo chart in the front of this book that goes step by step of what happens and how long. I would suggest NOT buying a car with your financial aid, this money is to be used for books, living expenses, food, transportation costs and such for the current semester.

Answer: yeah it takes a while to come back . you can call them and ...

yeah it takes a while to come back . you can call them and ask them when but usually they want you to be in school for a certain amount of time or they think you are just applying to get money ,there is a lot of people that , get the checks then quit. but firsst they send the funds to the school and then whatever is left over they will send to you. yes you can use it for a car , to live on whatever just make sure you get some school supplies too.

Answer: You could pay rent with your money. It's yours. You have ...

You could pay rent with your money. It's yours. You have to pay for school with it but the money that is left over is yours to do with whatever you want. As long as it is for some function of school, such as books, paper, car, rent, food, gas, tires. That's what I spent loan money on. Be careful though, that's not free money. Getting out of college and seeing the terrible shape of the economy and the crummy jobs real life has to offer, it does not help when student loans are calling six months after you graduate and you're still struggling to pay all your bills and get a better paying job. A $30,000 bill does not help your stress levels at that point in your life.

Answer: If you move out, you won't have much money in your ...

If you move out, you won't have much money in your pocket because you still would have to pay for books, rent, transportation etc. If you stay and live with your parents, try getting a part time job, and with the left over money of financial aid you will have more money to buy a car. You can do anything you want with financial aid funds. It's only intended for your college education but nobody needs to know the full details of how you intend to spend it.

Answer: No. This money needs to be used for your college education. ...

No. This money needs to be used for your college education. If you quality for a refund check from loans only you may be able to use the money. Contact your loan company though cause there may be a penalty for using a college loan for something other than education. A car is not considered education even if it is needed for communing. It is considered a luxury.

Question: What should I do to receve financial aid?

Answer: www.fastweb.com Sign up for it!! :)

www.fastweb.com Sign up for it!! :)

Answer: Get up, get dressed and get a job. It doesn't matter ...

Get up, get dressed and get a job. It doesn't matter what, anything will do. Then you get paid every week or month. Amazing isn't it, we do it all the time.

Answer: Filling out the FAFSA application would be the first ...

Filling out the FAFSA application would be the first step...it determines how much grant money you are eligible for...you can also try applying for different scholarships as well...hope this helps :D

Answer: apply for FAFSA....ask a guidance counselor about it and ...

apply for FAFSA....ask a guidance counselor about it and they'll help u!

Answer: Go to www.fasfa.ed.gov and the first link on number 2 will ...

Go to www.fasfa.ed.gov and the first link on number 2 will allow you to start filling it out. Anyone can get financial aid even if you make a billion dollars a year. The only thing you will not get is pellgrants if you make too much. Just fill out the application and save the confirmation page it gives you at the end. If you need help filling it out call the DOE at 8004333243 and they will walk you thru it

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