Student Loans

Paying for College
1

<p>I'm ignorant when it comes to this. If my parents don't want to pay, but I still want to go, could I be denied a student loan? What would I do? Can I take out student loans on all 4 years?</p>

2

<p>Yes, federal loans are available to all undergrads who file a FAFSA as long as they are otherwise eligible (ie. citizen/permanent resident, no drug-related convictions, meet standards for Satisfactory Academic Progress, etc.). But the limits are fairly low - $5500 for freshmen, $6500 for sophomores, $7500 for juniors and seniors. The limits won’t be increased simply because your parents don’t want to pay however, if they apply for and are denied a federal Parent Plus loan (which is relatively easy to get), you can request your student loans be increased by up to $4,000 per year. Finaid.org has good info on student loans, including loan calculators.</p>

<p>Obviously, it’s going to be tough to find colleges that cost so little unless you have a lot of merit aid or qualify for need-based aid. Are you going to live at home while you study?</p>

3

<p>Looking at another post of yours it looks like you may have the scores for guaranteed merit at a few schools… and be in the running for competitive merit awards at others.</p>

<p>You personally will not be able to take out in your name more than the amounts mentioned above, and in order to take those amounts your parents will have to fill out the FAFSA. Depending on your EFC on FAFSA you may also qualify for federal grants and work study, but even those amounts will not pay for four years living away at college. </p>

<p>Merit aid will likely be your best bet to secure the funds to go away to college. In order to be competitive for merit aid you will need to look for schools where your stats are at the very top of the applicant pool.</p>

<p>Start here looking for schools – <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html?highlight=guaranteed+merit[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/848226-important-links-automatic-guaranteed-merit-scholarships.html?highlight=guaranteed+merit&lt;/a&gt;&lt;/p&gt;

<p>Some of the information is old, but it is a good place to start. Depending on your CR and Math SAT and your HS GPA you may qualify for quite a bit of merit money at University of Alabama, but you woud need to complete your application by December 1.</p>