Single-parent student

Paying for College
1

<p>Hello all,</p>

<p>I am a student of a single parent (father deceased) and am short on money for the upcoming year. </p>

<p>I have calculated my books and tuition to be around $7500 (high estimate at Western Illinois University), but am only getting $5,500 through a subsidized Stafford Loan. </p>

<p>My mom already has payments on an older brother's PLUS loan and really doesn't want to sign another one, which I have no problem with. I can't get a unsubsidized loan because I was filed as a dependent for taxes. </p>

<p>So, my options are pretty slim (as far as I know): I can take a private loan, or try to talk my mom into a Parent PLUS loan. My mom seemed interested in signing it but afterwards I figured out that there is no deferment period and the loan is expected to be paid back immediately. </p>

<p>My questions are: where should I look for private loans? I went to the Sallie Mae website with intention of applying for a private loan, but for whatever reason I could only apply for the 06-07 school year?</p>

<p>I have an Associates Degree and sadly lost my Pell Grant due to grades my first semester at community college (didn't take it seriously enough, learned my lesson real good). I don't believe I'll be able to get my pell grants back unless I bring my cumulative to a 3.0? I'm currently at 2.7. </p>

<p>To anyone that can be of assistance, thank you for your help.</p>

<p>Cliff notes: need to find more money for college, can't apply subsidized, Mom doesn't want to do Parent PLUS, looking for info on private loans or any other places to get money.</p>

<p>Thanks!</p>

2

<p>Since when does a Pell depend on grades?</p>

3

<p>I thought it did? All I know is that I got mine dropped after my first semester of junior college. Not sure why, I did fail a class and roll in with a 1.9ish GPA. I always thought that was the reason.</p>

4

<p>So, you are $2000 short? Have you thought about getting a job? Might be worth considering.</p>

5

<p>in order to qualify for a pell grant (or any federal financial aid) you need to be making "reasonable academic progress". for most schools, that means at least a cumulative 2.0 GPA, completion of 75% of the classes you enroll in (W's and F's count against you here) and attendance full-time (12 hours).</p>

<p>Each school can define "academic progress" as they see fit, however, a 2.7 GPA should qualify anywhere.</p>

<p>You should qualify for a pell grant if your EFC is low enough -- what was your EFC this year when you filed? If you FA package does not include a pell grant, it may be that you didn't qualify for one.</p>