Hey I’m very new to the independent side of student loans. I did my fasfa as a independent because I’m just turned 24 years old and I wanted to give the independent loans a try. And I’m so going to stay on my own in a student apartment near the school. And my tuition and fees for the whole is about $7,456. My Pell Grant estimate was : $5,800 and my Direct Stafford Loans was $12,500. I just want to know even though it was an estimate from my fasfa am I going to get that type of money when I start school in the fall semester?
excuse my typo “fafsa”
^Yes, as long as your financial aid doesn’t exceed your school’s COA (Off-Campus)
Yes, you will probably get that amount since the loans are available to all students (part will be unsubsidized, probably $5500 will be subsidized based on your qualifying for Pell). The Pell is an entitlement, so if you qualify, you’ll get it.
But you’ll get half in the fall, half in the spring.
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going to get that type of money when I start school in the fall semester?
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You’re going to get HALF of that for Fall semester. The other half will be for Spring semester.
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And my tuition and fees for the whole is about $7,456.
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Is that for the semester or year?
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so going to stay on my own in a student apartment near the school.
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How much will that be each month for rent, utilities, cable, Internet? …and food?
How much will your text books cost for Fall semester?
What else do you have to pay for? Cell phone? Car? Gas? Other transportation? Personal items?
Health insurance?
Full time student?
Haven’t exceeded 600% for Pell grant ?
For-profit school?
The direct loan and Pell grant money will be disbursed to your university…NOT YOU. They will first be used to cover billable costs to the university. If there is excess money (and there would be in your case), it will be refunded to you but not until well after classes start.
You would need to check YOUR college to find out when they do refunds.
Also, what is the cost of attendance at your school for students living off campus? I don’t think you can get need based aid in excess of the cost of attendance.
You should have a job now to have some money for rent, food, books, supplies.
Did you already find an apartment? Paid security deposit and/or first month’s rent?
Like others said you should be able to get the Pell grant and up to $12,500 in loans, if you are eligible. You don’t have to take that much in loans if you need less.
$5800 +$12500 adds up to $18300 or $9150 per semester. Is that enough for your tuition and fees, rent, utilities and food, books, transportation?
Yes the $7,456 for tuition is for the whole year fall and spring and that is including books and supplies. No this not a full student position. My adviser suggest I do part time 8 hours per semester at least for the 2016-2017 year. Currently, I do have a job that pays good money to pay for my car, food, cell phone, utilities and other bills but enough to cover a rent for an apartment.
“My adviser suggest I do part time 8 hours per semester at least for the 2016-2017 year.” You may not get the full-amount of Pell Grant
You need to be enrolled full time to get full time need based aid. If you are enrolled part time, any federally funded grant money will be prorated.
In addition, some schools do not provide institutional need based or merit aid to oart time students. Check yours.
Oh really? Okay I didn’t know that. Maybe I might reconsidering going full time and still working at my job part time. Its going to be hard but I think I can manage. Thanks For all you guys help with everything.