<p>basically i've decided to go to miami...with no help from my parents financially...i have received 14k in scholarships, but there is still another 14k i need for books, fees, and partial board. Since i am considered dependent, I can't really do anything about that and i need to take out loans somehow. Does anyone know how much i can take out in loans, if its even possible to get 14k and how i can do it?</p>
<p>Go to the FAFSA website, and they should have all that information. I believe the regulations might have changed recently.</p>
<p>i don’t qualify for fafsa…since my parents make 350k a yr and i’m considered a dependent</p>
<p>What is the issue that is preventing your parents from picking up the tab? 14k is too much to borrow at 18 – project forward, with increasing tuition you will graduate with at least 60k in loans…</p>
<p>You’ll need a co-signer for any private loans you propose to take out. Will your parents sign? Or do you have another adult willing to take that risk? If not, you may need to rethink your plans.</p>
<p>You still need to fill out the FAFSA form to qualify for the student loans.</p>
<p>ANYBODY can take out 5500 as a freshman in stafford loans, but you MUST fill out a fafsa to get it.</p>
<p>hmm…i guess i will be doing that than.
and my parents are just against me leaving home</p>
<p>This site has great info on all types of loans and aid:
[FinAid</a> | Student Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Student Loans - Finaid)</p>
<p>As sue said, all freshmen are eligible for $5500 in federal Stafford loans if they file FAFSA. Beyond that, you’ll likely need a cosignor with good credit for a private loan unless you have significant assets/income yourself. You should start saving as much as humanly possible, maybe get a job on campus next year to help with your expenses/books. Looks like you’ll only need to come up with $4,250 for each semester’s bill after Stafford, so it’s not an impossible thing if you budget very carefully. Some schools also have additional loan funds…generally for low efc’s but worth a try if you’re short by a small amount.</p>
<p>Since you’re getting scholarships, you’ll also be getting 1098/1099’s from the grantors. So, you should be aware of the tax filing requirements and keep track of your qualified expenses - much easier at tax time if you keep a log as you go along!</p>
<p>[Publication</a> 970 (2008), Tax Benefits for Education](<a href=“Publication 970 (2023), Tax Benefits for Education | Internal Revenue Service”>Publication 970 (2023), Tax Benefits for Education | Internal Revenue Service)</p>
<p>Please look at the recent post by Northeastmom which contains an article about student loans you should read before you take on that kind of debt.</p>
<p>^^ and here is the link:
<a href=“http://www.usatoday.com/money/perfi/college/2009-05-12-student-loan-debt-bankruptcy_N.htm[/url]”>http://www.usatoday.com/money/perfi/college/2009-05-12-student-loan-debt-bankruptcy_N.htm</a></p>
<p>Sorry, I pasted the incorrect link at first. The link above is the correct one.</p>
<p>what loan could i take out for a car/other items i might need</p>
<p>A car??? I don’t think you have a realistic picture of how difficult it will be repay just the loans for tuition/board. Won’t you be living on campus? How are planning to make car payments/insurance payments, etc??</p>
<p>Ivay, you need to sit down and get a reality check. If your parents are not going to support you financially and you are way short on paying COA, you are going to have to scrimp, scrimp, scrimp to get by. No car, substandard living, lots of ramen, little social life, a job, etc. Not easy at all. Even then, if you are borrowing to pay COA, if you are taking out much more than the Stafford amounts, it’s going to be a tough go repaying those loans. Any loan is going to be difficult to repay as you will have all kinds of needs and wants.</p>
<p>OK, CPT is pointing out the biggies…know this, even if you start,. if your bills are not paid you will not be allowed to register for the next semester in most universities…especially the state universities. You absolutely must take a moment for a reality check. Do you have a job right now that you can work for 40 hrs per week until you leave for school? Can you bank and save the entire amount? Are you prepared to hold down a job while you are in school? If so, how many hours can you reasonably work and don’t foget the time you need to study. Do you have any family members that willingly will help you if you fall short a couple thousand dollars and can’t register for the next term? Forget the car…just forget the car…you can’t afford it. You say you’re getting partial board? What is that…how many additional dollars will you need to eat and have a place to live? Hopefully this school was your best deal awarding the best aid…</p>
<p>Well i just filled out my fafsa and it turns out I qualify as an independent. I called up miami and I think my room, board, and fees are covered…should i still be worried?</p>
<p>Why do you think you qualify as an independent?</p>
<p>Well its a personal family matter, i just never realized i qualified, but i do.</p>
<p>YES, you should be worried. Miami does not meet 100% of financial need.</p>
<p>well i figure miami will cover tuition and fees and i should have room and board covered by my scholarships…so what should i be worried about?</p>