<p>So I'm really freaked out about paying my first semester bill. </p>
<p>Heres where I'm at: I receive a $10,000 a year private scholarship, so that is $5,000 for this semester. I have a $5,000 a year scholarship from my HS, so that is another $2,500 for this semester. The thing about my high school scholarship is, that it is available for 5 years and it's flexible so if I need more money this semester, I can use it out of a pool of $25,000 for up to 5 years. I qualified for a $5,500 pell grant BUT (here's the kicker) my dad hasn't finished his taxes for 2012 yet. (I know, it's August). He says hopefully they should be done this week, but it is probably too late to get any sort of aid anyways from fafsa.
Total: about $7,500 a semester</p>
<p>My tuition bill showed up on WA on friday and it is around $5,000. I got housed in a single in MOJO because I'm in WISE so I have a pretty hefty housing bill of a little over $6,000 a semester.
Total: $11,000 a semester</p>
<p>I really don't want to get roped into the whole private loan scheme, but it seems like my last option at this point. Do I have any other choices? Can I still get a direct loan if my dad finishes his taxes this week? I do plan to save more for future semesters but I just need to know how to get this first bill out of the way.</p>
<p>I don’t think it’s too late to get a federal direct loan. My daughter sent in her FAFSA about this time last year and had the loan by the time her semester started, around Labor Day. But asking on the Financial Aid forum is a good idea, and check in with the university’s financial aid office as well.</p>
<p>Kurtlin, this is crazy, because UMich is a MEET NEED SCHOOL if you qualify for PELL and are in-state, so if your family had all your stuff together on time you would only have had to have borrowed the fed student loans instead of any other extra money.</p>
<p>If you haven’t called them already, you will want to do the following immediately:</p>
<ol>
<li>Dad absolutely needs to finish taxes and file taxes pronto. Not kidding. I mean TODAY.</li>
<li>Ask the billing office if it’s too late to go on the installment plan in the interim.</li>
<li>Call financial aid department directly, immediately, explain the situation, fax over your Dad’s tax return to confirm they have it in hand, etc. and stay on it – ride those changes in Wolverine Access</li>
</ol>
<p>Then, with any luck, you will have the following to work with for your first term:</p>
<ol>
<li><p>Your $7500 in private scholarship…however, note that this will reduce your “need” eligibility as if it were assets you or your family had</p></li>
<li><p>$5500 in stafford loans, subsidized (and possibly unsub, depending on how far your scholarship money takes you to meeting Cost of Attendance)</p></li>
<li><p>Likely $5500 in PELL provided you still had need</p></li>
<li><p>Quite possibly, the entire balance needed in Michigan Grants, which do not need to be paid back.</p></li>
</ol>
<p>The foregoing is the ideal situation to be in, so move mountains to get there ;)</p>
<p>For future reference, explain to your dad that need-based money can and does run out, so those who NEED it also NEED to file taxes and FAFSA very early each year to OPTIMIZE the amount of need based aid they can get. Best wishes!</p>
<p>Gonna be blunt. Tell your dad he’s a moron… and if you haven’t screamed at him to finish his taxes by now… then you’re a moron too… unless he actually is and willing to pay for some of your tuition. I’m sorry for being so honest but Michigan WILL take care of you if you need to be taken care of… all they ask is that you file your taxes and complete the fafsa and send in all the documents on time. Someone who’s out of state, not URM with above a 3.5 (probably only need a 3.0 tbh) with a EFC of 0 has ([50/58k</a> covered with 3k in work study and 5k of subsidized loans](<a href=“http://imgur.com/3DxriVG]50/58k”>Imgur: The magic of the Internet)). You qualified for a pell grant so I’m assuming your EFC is quite low as well. Why you decided to not tell your dad to hurry up, I don’t know but thankfully you only have instate tuition… don’t do that again.</p>
<p>Also is it essential to have a single?- you can certainly save money by having a roommate. Perhaps you can find another woman in WISE that needs a roommate. Do you have to be in Mojo if you are in WISE? You could save a couple thousand dollars not having a single.</p>