So fafsa have not gave decent amount of funds for college, what are my options of loans for college in the fall semester
also i’m doing work study program but i know it will not be enough, but my parents cannot help me much financially.
FASFA does not give you aid, it just determines eligibility for Federal aid. What have you been offered and how much more do you need? EFC? How much can your parents contribute?
How much more money do you need for the fall term?
around 6,283 for the fall term
Have you already accepted the subsidized and unsubsidized loans in your aid package?
Because you earn work study as you go, like any other job, that likely will not help with tuition, room, board, or books for the fall semester.
Assuming that you have already I taken the subsidized and unsubsidized loans, it sounds like you are about 12,600 short this year?
If you are not independent for financial aid purposes (in which case you would already have the additional federal loan eligibility), your parents apply for a Parent PLUS loan, and are denied you would be eligible for about $4000 more for the year.
Other loan options are that your parents take the Parent PLUS loan if they qualify. This is a loan in their name that they will be responsible to pay back. Or, you find a co-signer for private loans. In this case you and the co-signer are responsible for the loan, and the co-signer will have to make the payments if you cannot.
Most will encourage students not to take more than the federal student loan amount that you are eligible to take out without a co-signer in your own name.
What’s your net cost at this school? If you have the federal student loan and are still short $12k, it’s at least ~$18k. Borrowing ~$54k for undergrad is too much. There is no place you, as a student, can borrow that much on your own. It sounds like this school is unaffordable for your family. How much can your parents afford to pay? Are there more affordable options closer to home?