<p>Hey everyone! I'm going to be a freshman next fall in college and I was wondering when the usual dates are for getting loans and such for the upcoming year. Also, how much do you overcompensate for additional, non-expected expenses in your loans? Thanks everyone!</p>
<p>didn’t you get federal loans in your FA pkg? If so, those are probably the most you can get by yourself. To get more loans (bad idea) will require your parents to co-sign.</p>
<p>How much does your school cost? What aid did you get? </p>
<p>It sounds like you’re trying to borrow too much.</p>
<p>Schools disburse financial aid anywhere from a week before classes start until 6 weeks after they start. Your college should have an award date on the financial aid page of their website. The school will take out the money you owe them first for tuition, fees, room and board. They may offer a way to charge books at the campus bookstore before disbursal of a refund is ready.</p>
<p>If there is any left over, then they will disburse it to you. They may disburse it as a check, or on a debit card or to a school account. Find out how they do it early. If you want to move the money to some other account, you should set that up in advance to reduce the time before you can access any refunded money.</p>
<p>I have about 4,000 dollars in money that I have to cover for the whole year without any government aid factored in yet.</p>
<p>???</p>
<p>What is your FAFSA EFC? Haven’t you gotten your aid pkg yet?</p>
<p>How much does this school cost per year? Is this a CC that you’ll be commuting to?</p>
<p>
Have you even apply for financial aid yet?</p>
<p>I already did the FAFSA, I have 0 EFC. I’m going to a private school in Maine. I’m just confused on what to do next. I guess I’ll call them and figure this out.</p>
<p>What exactly is in your FA pkg?</p>
<p>What is the cost of attendance breakdown?</p>
<p>If you have a 0 EFC, then your parents won’t likely qualify to co-sign add’l loans. Are you sure that you can afford this school?</p>
<p>55450 scholarship, 2000 direct student loan, 1700 student employment. I need to cover then 1,950$ for the year it seems apart from the loan and employment above to cover all COA.</p>
<p>Have you only been offered $2000 in subsidized direct student loan? If there is no unsubsidized loan offered, contact the financial aid office and ask for that to be added to your package. As a freshman, the total direct loan amount possible is $5,500 and part of that can be subsidized.</p>
<p>Take a look at the COA. What items in that are things that you have some control over? You might be able to eliminate the $1,950 difference just by choosing a less expensive residence hall.</p>
<p>Also, if you haven’t yet found a summer job, if you start knocking on doors, you should be able to come up with something where you can earn $1,950 between now and when you leave for college.</p>
<p>For gosh sake, get a summer job to make that up.</p>
<p>Oooh, I think that missing 1950 IS your “student contribution from summer earnings.” And, yes, ask about the other student loan. And, yes, usually, COA has padding you can somewhat control. You may not need as much for travel, books can be gotten used or rented, personal expenses can be shaved. But, you should have a summer job.</p>
<p>Erin’s Dad, thanks for your advice on things. I really appreciated that comment seeing as I’m working 30 hours a week already. But expenses run high when you both have to help your family. But thanks for the advice. Maybe I’ll get a second job.</p>
<p>“expenses run high when you both have to help your family”</p>
<p>How critical is your income for your family’s survival? Can they make it after you leave for college? If they can, now is a good time for them to start living without your income so that you can have the cash on hand that you will need for start up expenses in the fall. </p>
<p>If your family cannot make it without your income, that is an entirely different story, and the college you are planning to attend simply won’t work. In that case, you need to modify your goals and attend a commuting distance school part-time while you work full-time to keep your family afloat. There is no shame in that. Lots of students find that is the route that they must follow.</p>
<p>I hate to leave 13 without comment.
Please understand no one knows your details until you reveal them.
And, sometimes how you say things matters.</p>
<p>I use the money I earn to pay for my expenses at home, with me gone there won’t be those expenses. And I know lookingforward that people don’t know my situation. It’s just that his answer clearly contributed nothing to my questions from the first post and had a tone of condescending pretentiousness. Thanks everyone for your help and I will be calling the FA office on Monday to clear things up.</p>
<p>Good luck kissme. Also ask around your community, church, relatives, friends, etc. if they have things you will need for your dorm such as twin XL sheets, comforters, dorm fridge, and anything else you may need. The costs of setting up a dorm room can be a few hundred dollars if you have to buy everything new.</p>