<p>I see. Thanks. Though, how do I apply for work study? I thought I would need to be in need of financial aid to apply for work study, and apparently the FAFSA considers that I’m dependent.</p>
<p>On the University of Washington’s work study website, it says: “To qualify for Work Study jobs you must demonstrate financial need and have a Work Study award as part of your overall financial aid award.”</p>
<p>Here is the issue. When you add together your EFC and unsubsidized Direct Loan, you do NOT have financial need. That total matches your cost of attendance as a commuting student. There fore you do not qualify for federal work study.</p>
<p>Some colleges also have on campus jobs that are NOT funded with work study monies. And you have the option of working near your home…a job you could do year round! </p>
<p>You live close enough. Can you drive over, and speak to a financial aid officer about the full unsubsidized loan…$2000.</p>
<p>
Can they afford: Tuition $12394 - Direct Loans $5500 = $6894? If yes, you have taken care of the direct cost to attend UW. Then you could work in Summer & weekends for the indirect costs.</p>
<p>Unless you are 24 or older, have dependents of your own, were a ward of the court before 18, are a veteran, you are dependent for financial aid purposes. It does not sound like the university has granted you a work study award. But, the university may have non-workstudy jobs available to students. </p>
<p>Right…subtract your $5500 Direct Loan (you have to get the balance of that direct unsub loan) and your parent balance is under $7000. Can they help with that? Can you earn a portion of that this summer…actually ASAP? Have you been working at all during high school?</p>
<p>Alright, so I found out on MyPortal to UW that I got $295 of Fed Direct Unsub Stafford Loan. So instead of getting the full $5500, I only got $3795…</p>
<p>And my parents think that we might have to pay $1,022 every month… hopefully I can get a job that would pay me $500 every month.</p>
<p>As mentioned above you can request up to the full subsidized amount of $2000, which would give you an additional $1705 in loans if it would be helpful to you and your family. </p>
<p>You will need money for books, commuting expenses, some food and personal items as well, so earnings from a job can be needed to cover those expenses as well. </p>
<p>At minimum wage (the recent increases in Seattle are gradual) I think you will likely have to work 20-ish hours a week to earn close to $500 per month after taxes. </p>
<p>I don’t think the student can request additional SUBSIDIZED loans. That would exceed their financial need. But they should be able to get $5500 total in Direct Loans. The balance after what they were awarded subsidized (that $295) will be UNsubsidized.</p>
<p>Kat, only $3500 of those Direct Loans can be subsidized for any student. But subsidized loans are based on need. If you subtract the students EFC, and subsidized loan, and add in a student contribution (which many colleges expect), this student might not be eligible for additional subsidized loans as that would exceed the cost of attendance.</p>
<p>I mistyped. Meant to say unsubsidized. Thanks for catching. :)</p>
<p>I thought that UW gave the student $3500 in GRANT money–my mistake. </p>
<p>Your immediate problem is that you will be getting a bill of about $6500 from UW in August, most likely. Half the $3500 in loans that UW has listed as fin aid to you, $1750, you can take out, and will reduce what you owe to $4750. You can take out an additional $2000 in Direct loans on an unsubsidized basis for the year, whic will bring down what you HAVE TO PAY by $1000 for that term, to $3750. That, along with any other fees that the school may add to this including loan fees will be your BOTTOM line that you HAVE TO PAY. The same will happen next semester. </p>
<p>Your parents are taking care of the roof over your head, utilities and any other such thing right now as you live with them. Maybe they are feeding you as well. You can scrounge up some supplies, and perhaps they will be giving you a hand with transportation. The other costs of going to college are just like the costs for a lot of kids when they go to high school, and have to be met as they come up. How to get to the school, cost of books and supplies, computer, food while at school (you might have to pack a lunch from home). That’s between you and your parents. </p>
<p>That EFC of $16K pretty much ,minimum OP and parents have to pay before getting penny one for the federal govt and likely from the school. The $3500 in subsidized loans is all the fin aid he is eligible for. </p>
<p>So the question is whether you can earn enough from any job this summer and during the school year to pay the UW bursar bills, and what you can get from your parents in terms of funding and care. Moving into a dorm means more money you have to come up with to pay UW. At least living at home, your parents are taking care of the room and board issues and you can use home resources. </p>
<p>But you cannot go to UW if you cannot pay them the bills they will be presenting you, and if you can’t get yourself to school. That’s the bottom line.</p>
<p>And if you cannot figure out a way to get through college, ain’t gonna be no med school. Yes, you will have to PAY for that, but more loans will be available in your own name at that time. But you have to repay all of this money you are borrowing. </p>
<p>You can take out the entire $2K of unsub loans, by the way. You need to sign the MPN for them after going through the online apps for both the sub and unsub parts fo the loans You can also ask your parents if they will borrow PLUS if they cannot pay what is needed. </p>
<p>See if your parents will agree to a payment plan set up by the school. they would pay each month.</p>
<p>med school is expensive, and rarely is aid given other than loans. (I have a son in med school).</p>
<p>Are you working this summer? </p>
<p>@mewtwo,
my Asian 2 cents, go to community college for 2 years, the credits transfer to U of Washington. Community college is less expensive and you will get the GPA you need for Medical School if you take the prerequisites there. Transfer for your junior and senior years, keep your GPA up, apply to med school, get your degree, and don’t give up!</p>
<p>BTW, going to community college is more common than you think. Good Luck</p>
<p>@mewtwo, also Starbucks starting this fall will offer free college tuition to all its employees for two years, so get hired by Starbucks and don’t give up!</p>
<p>I agree with attending a community college for two years, especially if you are anticipating large loans after graduation.
Many students with similar goals do just that, although they may concurrently be picking up college credit while attending high school.
Did you not do runnng start or take AP tests?</p>
<p>Also consider verifying whether the EFC is correct: 1) were any parent assets incorrectly entered as student assets? 2) were 401k or IRA account balances or pensions accounts entered as assets? 3) was home equity entered as an asset?</p>
<p>The Starbucks offer is for is for online classes.</p>
<p>Yeah I took AP tests, not many during my Junior year though. I took a full course load of AP classes during my senior year and waiting for the results right now. I didn’t do running start since I didn’t know much about it and my counselor didn’t explain it to me much.</p>
<p>Maybe so, I’m discussing with my parents about how we’re settling with the deal. Right now I’m currently looking for a summer job to work full-time. Though my parents keep thinking we should take a loan from Sallie Mae or from a bank, even though we aren’t sure since the interest rate will make the loans go up.</p>
<p>If only that Starbucks offer goes for University of Washington as well… if then, I guess a lot of people would apply for Starbucks. XD Oh well. Thank you everyone :)</p>
<p>I think you should consider spending your first two years at a CC as well. Even if you do find a job that can cover your expenses, all that time spent at work will take away from other things, and you might find that your grades or social life isn’t quite up to par. There are a lot of great community colleges in the Seattle area, and if you’re planning on going to med school you definitely want as little debt as possible. </p>
<p>Best of luck! </p>
<p>Yeah… maybe so. Sometimes I do feel like going to school then going to work may take away my time studying and away from my social life. Unless someone was able to figure that out for themselves and could give me advice. And yeah… I’m really thinking whether if I should go onto medical school if I have to money for it, and especially if I will get the grades to get in…</p>
<p>Though another reason why I chose the University of Washington is because a lot of my friends and classmates will be there, so I wouldn’t feel like I have to start all over. It’ll be like a high school reunion bonding for me, especially when my friends are there with me to go through the effort. But yeah, I got to think about the future.</p>
<p>Thanks!</p>