<p>Basically this spring will be my first time that I will be going for financial aid, as I'm cut off from my parents. It's okay, though, because I'm turning 24 so I should be able to qualify as independent. The question I have is, how does the financial aid process work? I'm completely broke, so I cannot pay for the classes when they start. Do universities usually still allow you to live on campus and go to class, and you basically owe them until your financial aid comes in?</p>
<p>Please clarify
- freshman?
- you need funds for spring? or next fall? you are already accepted.
- how much?</p>
<p>As to your question, no. that is not how it works at all</p>
<p>And you are in luck, there is a FAQ in the pinned threads at the top of the forum with ALL the details, but we can help you, just no need to repeat when someone made a nice FAQ
<a href=“Financial aid FAQs - Financial Aid and Scholarships - College Confidential Forums”>Financial aid FAQs - Financial Aid and Scholarships - College Confidential Forums;
<p>A lot of this depends upon your school. Where are you living right now? Are you at the school right now? Does the school have housing available for you? </p>
<p>If you are already at the school, living on campus, and you get a financial aid award that is pending, yes, the school will usually wait for those funds to arrive Generally some housing deposit is required , however, to get a room. Perhaps it can be waived. If you are there already, then not a problem since the deposit was already paid. You have to apply for a room and many colleges do not have enough for every student. </p>
<p>Also the only fin aid you are entitled to get for sure are PELL and direct loans. PELL will be determined by your FAFSA EFC which is determined by your income and assets. If you are paying for this spring, your 2013 income figures will be used on the 2013 FAFSA. How much you can borrow depends upon what year you are in school, whether you are freshman, sophomore or junior. </p>
<p>You need to apply for financial aid. Then you need to determine if you actually have enough money to cover all of your costs…ALL of them. If you can’t cover your costs, you will need to come up with a plan B.</p>
<p>Being independent does not guarantee that you will receive enough funding to attend the college of your choice. </p>
<p>Do you need financial aid for,the semester starting in January…or for fall 2015?</p>
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<p>It’s unlikely that you’d get enough aid to pay for tuition, room, board and books. What year are you and how much is this school. And…???..you’ll be 24 and in a dorm??? </p>
<p>beware that since you’re asking for Spring semester, you’re going to be awarded a full year’s worth of loans, but then NEXT fall, your loan amount will be split…so you’ll get a LOT less for Fall semester.</p>
<p>I just graduated from community college and I’m going to be transferring to university this spring semester (January). I believe I’ll get accepted to 3 universities, as I have a strong gpa and an associates (which usually means automatic acceptance in my state). I’m actually probably going to go to the worse of the three, because it’s the cheapest, and I believe I can cover everything with a combination of loans and the pell grant. The school I’m planning on attending does have housing.</p>
<p>
You should start with your school’s webpages on financial aid.</p>
<p>Spring term of 2015 is still in the school year of 2014-2015, so you might not able to apply financial aid as independent student. Your school’s financial aid office could tell you more.</p>
<p>Also, some schools will not let you change from dependent status to independent status while you’re attending school there. Check with your school’s financial aid office.</p>
<p>
Did you & your parents filed the FAFSA for 2014-2015 school year? Did you use Pell grants and Direct Loans for your 2014 Fall term?</p>
<p>ok, so when you applied to the new college, did you apply for aid and file a FAFSA? I am confused because I don’t see how you are still waiting to see if you get anywhere for spring and usually you would have had to arrange housing much earlier too if you are using university housing.</p>
<p>In your first post, you say you never used financial aid before. </p>
<p>So…</p>
<p>For January 2015…</p>
<ol>
<li><p>You need to complete a 2014-2015 FAFSA as soon as possible. I’m not sure you will meet the criteria for independent status for this academic year. When is your birthday?</p></li>
<li><p>Submit that FAFSA to your college. If you do NOT meet independent status, you will need to include your parent information.</p></li>
</ol>
<p>What was YOUR income for 2014…that will be the determining factor if you are independent…if you are not independent, your parents’ incomes will be the determining factor.</p>
<p>If you have junior status, you will get $7500 Direct Loan, plus if independent, I believe you are eligible for an additional $4000 in direct loan money.</p>
<p>Depending on your efc, you could be eligible for a Pell Grant.</p>
<p>For Pell, you will not get the full amount of $5730. You will get half of that amount for the spring term…and that is if your EFC is $0.</p>
<p>Important info needed here…when is your 24th birthday? You may not be eligible as independent for the 2014-2015 school year…depends when your 24th birthday actually is.</p>
<p>My 24th birthday is February 9th, so pretty soon. The school I’m looking at costs roughly 8,000 per semester, so 16,000 total.</p>
<p>You need to be 24 by January 1st. You have $0 saved? You need $8000?</p>
<p>
See <a href=“https://studentaid.ed.gov/fafsa/filling-out/dependency”>https://studentaid.ed.gov/fafsa/filling-out/dependency</a></p>
<p>The financial aid year goes from fall 2014 to spring 2015. Aid for that is the FAFSA you file in 2014 using income data from 2013</p>
<p>The next financial year goes from fall 2015 to spring 2016. Aid for that is the FAFSA you file in 2015 using income data from 2014.</p>
<p>(note: if you are going to go in summer you would have to talk to the college to see if there is any aid for that and which cycle the summer falls under, previous year or next year) </p>
<p>Usually when you apply to a college you check a box to indicate you will be applying for financial aid, then you file the FAFSA by their deadline. This way, if the state or the college has money to award you in addition to federal aid you can get it. Otherwise you only get federal aid.</p>
<p>Hmm so I wouldn’t qualify as independent for the spring. Thanks guys, I may just work with my associates degree until the Fall of 15, when I would qualify as independent. </p>
<p>Right, so at that time you may qualify for 0 to 5,730 Pell Grant, divided between 2 semesters. Then you can get a student loan for up to 12,500 as a Jr divided between two semesters. </p>
<p>If you let your colleges know you will be applying for financial aid, you can see if they will give you anything extra. Read the website requirements for filing for financial aid. You don’t always have to go to the cheapest school on paper, just the cheapest for you. You don’t mention the colleges so we don’t know if they give aid to help cover your total costs of attendance, which includes room and board. Then you don’t have to borrow so much. </p>