<p>I have no job right now and school starts soon (in 5 weeks or so). I was trying my best to not take out a loan for school but since i have no job there's no way i can pay for tuition. I have to get a loan before school starts so i don't loose the semester(s). Will i be able to do this in such a short time? My credit score is low, will that affect if i get approved or not? I know i could get other types of financial aid but i know that would take longer and probably have missed all the deadlines (although i will apply for the following year). And also, can i choose how much i want as a loan? For example if i need money for just one semester will i be able to do that? Or will i have to get a loan for whatever the tuition costs to graduation? I have no idea how this stuff works...
Thanks</p>
<p>If you will be studying at least half-time, the Stafford loan is the place to start. The FAFSA form is the application for the Stafford. Get it done yesterday.</p>
<p>After that, there are all kinds of private lenders. I understand Discover Student Loans gets high marks by many on here. Go check out their website.</p>
<p>As scottaa said, stafford loans are your first bet. As long as you filled out the FAFSA you shouldn’t have a problem getting at least an unsubsidized stafford loan, your school should have offered you one even if you didn’t intend to take out a loan. At my school I believe it’s too late to submit a FAFSA still, but I could be wrong and your school could be different. The advantage to stafford is a fixed interest rate and you don’t need to pass a credit check. Call your school’s financial aid office, immediately, and get the information you need.</p>
<p>If a stafford is not an option, if you have a low credit score you will need a cosigner to get a private student loan. And you had best get on that immediately, I got mine from Chase and it took a few weeks for it to be processed through and I know my bill for Fall is coming in a couple weeks. I do know that it has a variable interest rate, which is unfortunate, but if it’s your only option that’s all you can do. I know my interest rate is starting at 6%, I am hoping it won’t change much. These can also be deferred, also can have a grace period, and can have a cosigner release program after like 24 months of consecutive on-time payments. That last bit was important for my parents because they need to be able to do loans for my sister in four years. </p>
<p>Another option you may have for school is a payment program, my school offers a 10 month payment program through Sallie Mae that is pretty popular. If you aren’t used to using these kinds of programs there may be options out there you don’t know about. The key thing here is for you to move FAST because you are running out of time, if you haven’t already. Get the process started for whatever you choose TODAY!</p>
<p>The deadlines at the schools are typically for the school’s own institutional funds and rarely have an impact on Staffords. You’ve likely missed out on much if not all of any school funds at this time.</p>
<p>It shouldn’t be too late to file a FAFSA. Although each school has their own priority deadlines for the best chance at aid, and for their own institutional aid, you should still be eligible for any federal aid that does not have limited funding and that you qualify for. For instance if you qualify for the Pell grant you would still be able to get that and you will be eligible for Stafford loans. You are probably too late for Federal aid that has limited funding (such as SEOG, Perkins, Work Study).</p>
<p>The Stafford loan does not require a credit check and all students that are eligible to file FAFSA should be eligible for it (assuming you are not otherwise ineligible for instance because you have exceeded the maximum cumulative in Stafford loans).</p>
<p>Thanks a lot guys. I will go talk to my financial aid office tomorrow.<br>
I have another question. In case i can’t get any type of financial aid at this moment, can i use the pell grand that i got for summer but didn’t use (didn’t got to school). Can i “transfer” that money to pay for this fall sememster? In order to apply for fall semester my parents would have to file taxes for last year and they haven’t yet, don’t wanna wait on them and if i do it will take time. The money i could get for summer was using my parents 08-09 taxes, for fall i would need the most recent. But can i still use that money for this coming semester?</p>
<p>No I’m afraid not. Pell grant that is awarded for a particular school year (2008-2009) must be used in that school year. Can’t be carried over to the next year.</p>
<p>It’s almost August - when are your parents going to file their taxes? It is late - even for late filers! Do they realize you may not receive aid if you aren’t able to file FAFSA soon?</p>