<p>Hello everyone. I joined this site to see if I could find some people who would be able to help me out in the situation Im in, and/or point me in the right direction.
My names Rachel, I live in Albion Pennsylvania and go to Edinboro University. I want to return to school this coming semester. Unfortunately, I am in debt, I have bad credit, and I have no one to co-sign any loans for me. I owe my bank $300 in overdraft charges, I owe a couple relatives a couple thousand dollars, and I owe Edinboro about $2,000 for last semester. I want to know if theres any way I would be able to get this $2,000 and pay Edinboro off so I can return to school this semester. I filled out FAFSA before last semester and Im never rewarded any grants, and I never get much financial help from the federal government. I have never had any luck getting scholarships either. I was going to take this semester off and work, but I am hoping theres another way. Does anyone know of any way I could get the money to pay off school despite all of my financial problems?</p>
<p>This is just a discussion board, so bear in mind that we are not experts. You need to take a deep breath and decide what you want to do for the upcoming school year. Right now the $300 in overdraft charges that needs to be addressed immediately. As soon as you can pay that, the better. You then need to do a financial analysis of your situation. You said you have complete FAFSA. Are your parents in financial shape that you do not qualify for aid? Regardless, you would qualify for non subsidized Stafford loans, but that is not going to help you for the money you already owe. My suggestion is for you to work, scrimp, save this term, maybe take a class or two at a local or community college on the cheap and save up enough to pay off Edinboro and get some money to put away for the following semester. You need to talk to your parents also as to what they are willing to pay in terms of college costs. If they are not able or willing, you may not be able to afford to go to Edinboro full time. You may have to save enough to pay off the $2K you ow, and enough to move up there, rent a room off campus with a roommate on the very cheap, find work up there and then save enough to put down enough to pay some of the tuition and work your way along with loans to get through Edinboro on your own. That means lots of scrimping and hard work. Otherwise, stay at parent's house and commute to a local school.</p>
<p>R, you have posted too much personal information; not your fault but your post needs to be "anonymized"...</p>
<p>good point LTS</p>
<p>Rachel: Always make the effort to speak to people who are in a position to do things like waive overdraft fees and find financial aid for you. It may be a little uncomfortable for you but that's what they're there for. If your banker sees that you had a rough spot but are trying to make amends he may very well reduce those charges. If possible, bring cash with you and try to settle for half that amount. Do not delay or make them come to you though! </p>
<p>I would imagine that if you're a decent student and explain to your FA office that you're going to have to take time off to try to meet their tuition they might try a little harder to help too. After all, time off = no tuition! And take time to contact your relatives and explain your situation and your plan. At least keep them informed even if you can't offer payback right now.</p>
<p>I know it doesn't seem like it now but you're fortunate in that you're learning a hard lesson early at relatively little cost. Always have a financial plan, and plan to go to plan "B" if necessary. Good luck!</p>
<p>The way it works for undergraduate financial aid is that if you are under age 24, or unless you fall into some special category (married, have a dependent, veteran, ...), it is your parents' call and responsibility to provide college funds just as they are responsible for your high school. The difference is that it is totally optional to provide college. So they are your first resource. If they are financially unable (by federal and/or institutional definitions, not their definition) to do so, then money is available. The only thing guaranteed is the Pell grant for low EFC and subsidized Stafford loans. However, with Pell grant eligibility may come state program money, SMART, Perkins, SEOG funds, not guaranteed, but possible. There are also non subsidized Stafford loans for all students. If you apply to a college that has the money and really wants you, they can throw their own funds into the pot. State schools don't tend to have a lot of that kind of money. There are also merit scholarships for those that meet certain criteria sometimes regardless of income or need. </p>
<p>So your first source should be your parents. What are they willing and able to pay? What sort of conditions do they have? They are an integral part of all of this. You must have their financial info to complete FAFSA even if they will not contribute. Once they do that you are eligible for at least getting Stafford loans. That is about it. That would be enough to pay for tuition if you live at home and commute, going to a community or local state college. Working part time would lessen the loan burden, and may be necessary depending on your state schools' tuition costs. If you want to go away to school, then you need to work your way through college.</p>
<p>If you really want to go back to Edinboro College, and work your way through there, I suggest you save up enough money by working at home to pay the $2000 you owe. I would talk to the university to see what could be worked out, but before returning, I would want that amount settled and paid. Then I would move to the college area, perhaps staying with friends with some saved money to hold me over until I found a job, a room and then take out loans and beg for aid to go to school there. There are companies like Circuit City that will pay for some of your education as you go to school which would really help out. If you take 12 credits a semester you can get the full Stafford loan amounts and scrimp to live until you get your degree. That is the way many kids went through college that I know from my day, including myself to some degree.</p>