<p>Where do you get that idea? Were you ever offered a Perkins loan? The school has to offer you a Perkins loan for you to get it. If they did not offer it to you then they either do not have any Perkins funds, you do not meet their criteria for getting Perkins funds, or they have already awarded all the funds they have. It is extremely unlikely that you will be offered Perkins funds for summer as the school is unlikely to have any to give you.</p>
<p>12 credits for us is full-time. 3 credits is the equivalent to $1,000. I just feel like if i get creative with scholarships or grants, then there is something i can do…but idk what it is!</p>
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<p>I have never heard of this before in my life. </p>
<p>Do they pay your utilities also? </p>
<p>How can they foot the bill for your off campus living quarters and utilities?</p>
<p>OP</p>
<p>Is this more a housing, utilities, food, and sundries issue or a die hard cost per class issue? I am confused. </p>
<p>Have you family or a really good friend who could help you for the spring semester? Maybe you could just stay with family or a really good friend. Tweak your course load and therefore your fin aid and try your best to look for work.</p>
<p>I am guessing the FAO was saying that you might be able to get an increase in your COA to reflect the higher costs of off campus living. That would give you room in case you get an outside scholarship or can secure a private loan. As I explain to students, we can increase your budget to a million dollars … but that doesn’t mean we have any money to award you to meet that budget.</p>
<p>If you decide to adjust credits to make this work, you have to keep in mind that some aid adjusts when credits are adjusted. For example, Pell pays 75% of the amount it would pay at 12+ credits if you only take 9-11, 50% for 6-8, 25% for 5 or less (at the top of the Pell range, it sometimes doesn’t pay at all with less than 12 credits). Institutional grants may have the same or sometimes even more stringent rules. You really need to check your FA website for info, or ask someone in the office.</p>
<p>Summer Pell is available IF you earned at least a year’s worth of credits in the two preceding semesters — if you withdrew or failed, those credits don’t count. For example, if your school uses 12 credits for full time for FA purposes, they probably use 24 for “year’s worth of credits” (FA year credits can be different from academic standing year credits). If you earned 24 credits in fall & winter, you would get Pell in summer. You still MIGHT get Pell in summer even if you fell short of the full 24, but the rules are too confusing to explain when just speaking in general (honest - they are ridiculous - the feds need to be the ones explaining the new rules to students!).</p>
<p>Kelsmom,</p>
<p>You seem like you know a lot about this. what would you do if you were in my position?</p>
<p>I am a Financial Aid Officer. I often have to advise students in your position, and I really do feel for you. You are almost done, so the important thing here is to cut your expenses to a bare minimum & concentrate on getting through this last year. I suggest three things to students in your position … 1) talk to the Bursar/Student Accounts Receivable & see if you can get on a payment plan to spread out what you owe — this only works if you think you might be able to work & earn enough to pay it off in the relatively near future (and if you apply for scholarships & end up getting one, you can use that); 2) if that doesn’t work, try to find a lender who will lend you that last $4000 (look for one who will lend to cover past years’ balances). You may very well be able to get that private loan. This would be one you will want to try hard to pay back as soon as possible, since it probably comes with higher interest than your other loans. 3) You might also consider taking time off to earn some money. You can go back when you are able to pay off your balance & have enough to pay for the new semester. You could also consider cutting back to part time while you work (just don’t drop below half time, or you lose your loans).</p>
<p>You are in a tough place. Try not to let that last $4000 keep you from finishing what you began. Even if you have to take some time off to work, it’s not the end of the world. In 30 years, it will seem like it was no big deal. Trust me, I know. :)</p>
<p>Here is a link to information about UMd’s payment plan:</p>
<p>[Payment</a> Methods, Financial Service Center, University of Maryland](<a href=“The University of Maryland | A Preeminent Public Research University”>The University of Maryland | A Preeminent Public Research University)</p>
<p>I am bumping this up in case there is anyone else who knows of something to help the OP.</p>