In my first year of college, everything worked out fine but my second and upcoming third years have been really troublesome. Throughout my second year they had me going in circles, filling out and bringing in the same papers over and over again and in the end I was actually getting student aid, not a loan, and they took all the money from my back account. I’m now really short on money coming into my third year, and my college and FAFSA are sending me back and forth, each saying the other is responsible for student loans and I have no idea which is what now.
How could I still get a student loan for my previous year so I can be reimbursed? And which is it for my current year, FAFSA or the college (University of Illinois-UC), and what are the steps I need to take for it? Also, is there anyway to get a student loan that doesn’t automatically go towards tuition or room and board or anything like that, but rather a loan that the student themselves can use for things they would need and pay off after they graduate like the rest of their loans? Where would I get this kind of loan?
This has been a huge nightmare for me and I really hope someone can answer my questions in detail, I’m really confused on this whole process now.
" my college and FAFSA are sending me back and forth, each saying the other is responsible for student loans and I have no idea which is what now."
??
this makes no sense.
FAFSA is just a FORM that you must fill out each year if you need $$ to go to their college.
FAFSA supplies NO MONEY - The College does, but they need the FORM to be filled out so that their financial aid office will know what you/ your family earned/ can afford and what your “need” is from them.
you need to sit down with a FA officer at the college and figure out if you can afford to continue to go to college their.
Look, you are in college. There is no reason you can’t read and understand the page about federal loans and how they work.
You fill out FAFSA (Free Applicaton for Federal Student Aid) EACH year you want a loan or any aid
You indicate to your college you want your federal student loan
The college processes the loan. They put any grants and loans toward tuition/fee/room/board first, then excess goes to you. They aren't going to be unpaid for tuition and just let you go on a shopping spree.
If you are a dependent student, you may borrow (total of sub and unsub loans)
freshman 5,500
sophomore 6,500
jr 7,500
sr 7,500
Note that while you may not go back and borrow from the previous year, if you school considers summer part of 2015-16, then you might still be able to borrow for that year. However if your school considers summer 2016-17 then you need that for the upcoming year.
Instead of filing out and bringing same papers, just bring a copy you kept. Unless it is for the new year, then OF COURSE you have to fill out new forms with new numbers because the year has changed.
No one takes money out of your bank account without permission. If you owed money to the school then of course you have to pay them.
If this summer is 2014-2015 you would need to be enrolled in summer to get any available remaining federal student loan amounts from the 2014-2015 aid year.