Student Loans Question for Community College

Paying for College
1

Hello CC, I remember having an account like 6 years ago but I forgot the login, anyways, I’m back and with a question for affording school A bit of background info:

I’m 19 and I have graduated high school last year. I took the year off to focus on my online business which has grown quite a bit. A couple friends from HS matriculated to a community college upstate and I plan on going there as well. I’m going to improve my programming skills to help improve my online business.

Long story short, I have to get off campus housing and I’m gonna need some cash to survive for a couple weeks until my next big payment (I will be good after that).

Been looking for a loan and asked my mom if she could co sign for a personal loan, she said no. She asked why I dont just get a student loan and thats my plan. When filling out my fafsa, it said im estimated to get $5,000 in grants and $5,500 in stafford loans which will be enough to pay for my tuition and fees.

But my question is, is it possible for me to get another loan on top of that financial aid? Im gonna get a stafford loan for my tuiton but can I get another student loan to pay for my book fees and to support myself for a couple of weeks before my income come?

I’m just asking if I’m eligible or can do this, not if you recommend it or not. I’ll

2

I’ll pay this loan back withi a couple months as I’m getting a $XX,xxx in the next couple of months, but I need some cash for the first couple weeks of school.

3

The max loan a freshman can get from the fed govt is the 5,500. The only grant is the Pell Grant. (With a couple exceptions I I don’t think apply to your case.) Those aids will be split between fall and spring, in case you weren’t aware. So unless you can borrow on your own, unlikely without a job, or sell something, seems like you may need to delay until the spring semester.

4

No, you can’t. But you can delay going to college till spring. Then you’ll have your money.

5

Is this money you’re getting later guaranteed?

6

If you have a credit union account, you may be able to get a short term loan.

7

I hope you reported the income from your business on your FAFSA and tax return.

And the community college costs $10 k a semester?

8

Community College in my state costs $4400 per year. You are receiving $10,500. Why not get a job now and save some money for an apartment. Those loans will not go away and you will have to pay them back someday. Most CC students work.