<p>I am a sophomore, attending Virginia Tech, an out-of-state student there.
Recently, my financial status changed. My grandmother paid my whole tuition last year (30,000) and started to pay this years and had to stop. I am not expected to cover the rest of the expenses. I'm okay with taking out a loan, although I desperately need advice.</p>
<p>My remaining debit for fall semester is 7,000. The debit for spring semester is 16,000. I applied for a Sallie Mae Student Loan with a Fixed repayment plan. My grandfather will be the cosigner. What if I am not approved? Are there better loans out there? Most of the students at tech recieve the federal unsubsisized loan, just by filling out of the FAFSA (usually a 5,000 loan). I didn't receive this loan because my FAFSA was not completed when I called the financial aid office in October. I finished the FAFSA, yet never heard back about the loan. What should I do?
Please help!</p>
<p>So they let you finish fall semester and register for your spring classes with a $7K unpaid balance? I’m surprised…and am also wondering if it’s too late to have loans certified for the fall semester. Whatever you do, DO NOT start spring semester without having fall paid off and full funding secure for spring. If you have to transfer, which is what I would recommend, the school will not release your transcripts until your account is paid in full.</p>
<p>What about your parents? Can they take a Plus loan or pay any of this for you? $23K in loans for one year is a lot of debt for a sophomore…and what will you do the next two years? Borrowing $60-80K for an undergrad degree is ridiculous.</p>
<p>Just wondering…how did you see your classes from Course Request for Spring if you have an overdue balance on your account?</p>
<p>I had a small balance on my account that appeared in November, and there was a hold placed on my account so I couldn’t see my classes or do anything in add/drop until I paid it.</p>