<p>Got a bill for freshman fall for my son and he owes 5k. I hated to take out a plus loan but was going to do it reluctantly because I see no other choice. I applied to day and was denied!</p>
<p>Now what do I do? Our family EFC is zero (low income) and we dont have the ability to pay this.
Suggestions asap please! bill is due august 13th</p>
<p>If you were denied a Plus he will get an increase in his ability to borrow through Direct loans to the independent student level. [FinAid</a> | Loans | Student Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Student Loans - Finaid) Looks like he can get an additional $4k.</p>
<p>Yes, being denied for the PLUS would make him eligible for an additional $4000 in addition to the $5500 he would otherwise be eligible for. But that is for the entire year so only $2000 (plus $2750 would be disbursed for the fall semester.)</p>
<p>Does the school have a payment plan? If so, can you afford the monthly payments?</p>
<p>If not, your son may have to look for a more affordable option.</p>
<p>Does he owe 5k for this term or 5k for the whole school year?</p>
<p>if he owes 5k for this term, this school is not going to be affordable to your family. Even with the 4k additional unsub loan, it will be disbursed 2k for the fall term and 2k for the spring term. This means that you will have to come up with 3k this term and 3k next term to make this school happen.</p>
<p>can you afford the payment plan, which would be ~ 600/month plus fees?</p>
<p>[Student</a> Payment Center l University of Pittsburgh](<a href=“http://www.payments.pitt.edu/pplan.html]Student”>http://www.payments.pitt.edu/pplan.html)</p>
<p>If it is 5k for the school year, after the loans you will need to come up with $1000 for the school year or $500 by the the 13th in order for him to attend classes.</p>
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Are there anyway to lower the bill? Cheaper meal plan? Also, ask for work study from the financial aid office (your son may be late for that.)</p>
<p>Your issue is not the Fall semester. It is the Fall semester and the seven after that. I’m afraid you can’t afford this school.</p>
<p>Yes…your other thread indicates you need $5000 per SEMESTER in loans for this school. It does not sound like an affordable option.</p>
<p>Why would a 0 EFC family think that going to a school where the parent has to borrow $10k per year (while the student borrows full staffords) is affordable. The debt would be $70k+ by graduation!</p>