<p>So I'm a senior studying at the University of Maryland, and I'm an in-state student. In order to keep going to school and finish college (I know, I'm freaking out because it's my last year but i can't afford to keep studying here) I need to get a lot more financial aid. It would be strictly need based, I'm an independent student. So i was hoping/wondering if anyone knew of any scholarships, grants or need based loans that i could get? I need about $4,000 in aid for my last year of school. Please help!</p>
<p>Yes, I have filled out my FAFSA and have received the maximum possible. I’ve contacted the financial aid office at my school and they said to search for outside grants, loans and scholarships. I am independent student for all purposes. I have taken out the max amount for the Stafford which is like $12,500 and the max for the Pell Grant which is $2,500 per semester. The problem is I owed $7,500 from the previous semester, so the majority of the money so far has went towards that! Any suggestions???</p>
<p>Stafford loans are really the only need based loans out there (other than Perkins loans which are extremely limited and would have been offered by the school if they have them, which many schools do no, and you were eligible). Other loans would probably be private loans and you would probably need a cosigner for them.</p>
<p>Maybe you could find a co-signer for a private student loan. If that’s not possible, you could go to school part-time and work part-time until you finish. That’s probably not your preferred course, but it’s not the end of the world.</p>
<p>*I am independent student for all purposes. I have taken out the max amount for the Stafford which is like $12,500 and the max for the Pell Grant which is $2,500 per semester. </p>
<p>The problem is I owed $7,500 from the previous semester, so the majority of the money so far has went towards that! Any suggestions??? *</p>
<p>Since the majority of you aid went to cover last year’s debt balance of $7500, are you saying that you owe money for this current semester and/or you need money for next semester?</p>
<p>Do you have any family members who will co-sign a $5k loan for you to finish your senior year? </p>
<p>How old are you?</p>
<p>I realize that you have a difficult courseload, but are you sure that you can’t even get a part-time job to cover misc expenses?</p>
<p>Not clear about your “$12,500 Stafford Loans”? Does that include the Perkins loan? If not, see if you can get that as I see you have a Pell Grant. If the $12,500 is a combo of $7500 Stafford and a $5000 Perkins, then see if you can get a “supplemental Stafford loan”. Many schools aren’t aware this exists. Call the Dep. of Education (via the FAFSA website) and ask specifically about it and whether you qualify; then, in turn, get them to contact your school FA dept. to guide them through the process…</p>
<p>He is an independent student. The $12,500 is the max Stafford for an independent student (3rd year and up). The only supplemental Stafford I have heard of is for dependent students whose parents have been denied a plus loan and brings the max loan up to the same as that for an independent student. It is not available to independent students.</p>
<p>There are no Supplemental Stafford loans. Dependent students whose parents apply for & are denied a PLUS may receive additional unsub up to the year-in-school level that an independent student receives … but independent students do not have eligibility beyond year in school annual max Stafford. I know this for a fact. The $12,500 is all Stafford … that’s the annual max for an independent senior. The OP would have been offered a Perkins in addition, not in place of, if there is still a gap in aid. </p>
<p>Perkins loans are most likely gone. Ours have been LONG gone … they were awarded in the first packaging run. OP can ask, though.</p>
<p>The only option in terms of “finding” money is a private loan. Finaid.org has a good list, and you can search CC threads for suggestions, as well.</p>
<p>Something else to consider: If you were awarded up to Cost of Attendance this year, you will NOT get a private loan certified through your school. The past due amount will not be considered in current year eligibility, even if you did use current year funds to pay off a past balance. You would need to find a lender that would approve you for a prior year loan.</p>
<p>Yes, I was awarded up to my cost of attendance. No one will cosign for me. The financial aid counselor said that since i live off campus, that since I am already at my cost of attendance that there is a loophole that says if i live off campus and am only awarded a certain amount for rent for on campus living – that if my off campus rent exceeds that of which i would’ve paid to live on campus – that the financial aid office would pay the excess amount. Has anyone else ever heard of this?</p>
<p>I don’t have a car. I will look into getting a job. But do you know any other scholarships like that or any websites with that information? I definitely have a lot of delinquent bills lol…</p>
<p>You can google scholarships. Here’s why I’m not pointing you in that direction: Most outside scholarships are for high school seniors (and often only cover one year). I’ve never personally heard of an outside scholarship that would still be accepting applications in late Nov for tuition due in the next 4-8 weeks. Most are quite competitive and you have to be the top candidate(s). In short, they are unlikely to be your best option at this point. </p>
<p>Plus, if what is holding you back is last year’s tuition and Maryland met your full need this year, you are really not a candidate for any extra $. As a matter of fact, if Maryland did meet your full need and you were to win an outside scholarship, they would likely reduce your loans by the amount of your scholarship. See the problem? </p>
<p>Now, one thing I did see which may be helpful. There was a thread on here not too long ago where they were discussing that Pell Grants would now be offered in the summer. (I know that, until now, a summer Pell Grant would only be awarded if the spring one hadn’t been used. This seemed to say that an eligible student would be able to get summer funds even when they had used two semesters of Pell Grant $ that academic year.) Since you are eligible for Pell grants, that might help you but you would have to figure out the numbers. (I don’t know if Md charges you the same if you take 12-18 credits or if it charges per credit.) Run the numbers and see if it would be helpful to:</p>
<p>1- reduce your credits next semester to pt, thus owing less tuition. (The catch with this would be that your financial aid would decrease.)
2- remain ft but have a little more time in your schedule to work</p>
<p>If you need to come up with this $ in 4-8 weeks, the only reasonable ways are:
1- sell stuff
2- borrow from relatives/ private loan</p>
<p>The Perkins loan is very very limited. It is not like the Stafford loan where you are eligible for a certain amount and can be sure of getting that amount. Schools have very limited Perkins funding and many schools do not even have any Perkins funds at all. Those that do have
Perkins funds set their own criteria for how to award them.</p>
<p>The federal maximum for Perkins loans is $4,000 but very few schools have enough in Perkins to award anything like that.</p>
<p>Just to make sure i understand. Your saying that i could take a summer class, and use the perkins loan (that i should’ve used for the spring semester, but didn’t) for the summer class?</p>