What are my options?

Paying for College
1

<p>Hi, </p>

<p>I'm a sophomore at Emory University and currently my award letter looks like this </p>

<p>Per semester
Grant- 15,789
max loans 2,750</p>

<p>that leaves me to come up with roughly $14,000 for the year. </p>

<p>The reason for this is that I was late on FAFSA/CSS/turning in papers and my grant was reduced by $5,000 per semester. </p>

<p>However, this is simply impossible to pay and I don't know what options I have for loans. </p>

<p>I've been looking into a Direct PLUS loan but even if my mom can somehow cosign, won't I have to pay interest while in school? (My mom can't pay anything). </p>

<p>Right now my EFC is at $7,700 but my mom and stepdad filed their tax return jointly which resulted in my family's income looking something like $55,000...
However (even though I was late..haha) right after sending in FAFSA to my school my mom and stepdad separated ove the summer following some other family issues that made it impossible to keep up with everything and send forms promptly and all that, plus I kept faxing the papers but the school kept losing them and of course that was my fault...</p>

<p>Anyway, now my mom's income is roughly $24,000 for the year, and my dad can't help at all (he filed bankruptcy not long ago). Therefore my expected contribution of $14,000 obviously can't be met, as my mom's loans/bills/legal expenses already have us living in a tiny apartment with her having to borrow money from my brother just for groceries and other things. </p>

<p>We tried to get a student loan from Sallie Mae but were denied obviously, on her small salary with loans and my dad's bankruptcy and being out of work at the moment that simply isn't an option. </p>

<p>Am I correct in believing that my only options left are either trying for the Federal PLUS Loan, taking a year off and working, or transferring? </p>

<p>My gpa for the year was 3.1 so transferring is going to be a hassle, but I can explain parts of the bad GPA to another school I think..</p>

<p>Sorry this was written poorly I'm just extremely stressed and I don't know what to do. I need to come up with $6,300 for this semester alone (not counting books..which I'll worry about when I can I guess) and I'm supposed to leave next Saturday for school, but I don't even know if I can go since I was just given my award letter today. </p>

<p>I've tried appealing and it was denied and I e-mail my advisor constantly but so far he has just treated me like a child and been no help. </p>

<p>Is there anything I can do?</p>

2

<p>You need to explain your financial situation to Emory.</p>

<p>A couple of things…you were late in filing your applications and you say that resulted in $5000 less PER SEMESTER…that’s $10K. AND you say your loans are $2750, but the maximum Stafford loan for sophomore is $6500…and yours only totals $5500…</p>

<p>If you had that extra $10K (from the missed deadline) and the extra $1000 (Stafford loan), you would only be “short” $3000 which you should have earned working a summer job.</p>

<p>Talk to the folks at Emory. Do you have a REALLY good reason for turning in your financial aid applications LATE? If so, perhaps they will be able to help you.</p>

<p>To others reading this thread…please CHECK YOUR DEADLINES and DO NOT MISS THEM.</p>

3

<p>At most colleges your advisor would have nothing to do with financial aid. Walk into the financial aid office and discuss your change in circumstances. It might not be convenient, but I don’t see that you have any choice. If you can’t line up financing, you won’t be able to go. </p>

<p>You might be eligible for state backed loans -
[georgia</a> student finance commission](<a href=“http://www.gsfc.org/gsfcnew/index.cfm]georgia”>http://www.gsfc.org/gsfcnew/index.cfm)</p>

<p>Go talk to the financial aid office and discuss your change in circumstances and see what they can do for you.</p>

<p>BTW, I wouldn’t think transferring would be an option at this late date. Taking a semester off might be necessary though.</p>

<p>Good luck!</p>

4

<p>I’ve talked to them endlessly. </p>

<p>The forms that were latest were my stepfather’s W-2’s which they don’t need since he isn’t helping pay anyway, but they were hard to get from him because they separated and he lived a ways away…and the signature on the tax returns. They ahd the return jsut not the signature. I didn’t know if they had them or not because they take ages to update OPUS even if they do have them. In fact I called and asked them to look like a week or two after I faxed and they said “oh…well…we found them”…</p>

<p>The reason being was that my mom was in rehab and my family was falling apart…I mean I don’t know what else I can tell them. I told my advisor my dad lost his job…my mom was relapsing and was sent back to rehab…they were splitting up and all of that was a lot of stress. I could have sent the forms but we were moving and losing forms and so much was going on. They denied my appeal for being late already with all that information so I doubt it. </p>

<p>Other than that there aren’t any options other than not going are there…</p>

5

<p>I can’t just walk into the office, that is in Atlana and I live in Louisiana. My mom had to borrow money from my brother to take me…as my birthday present (august 12th…lol)…so our situation as you can see is pretty dire.</p>

6

<p>Also thanks for the help guys.</p>

<p>I should add that also other kids thinking about going to the school of their dreams…if you are poor and you think “oh well they will make sure I can go”…go somewhere else. </p>

<p>I had a full ride to LSU/LaTech/Tulane(almost full) and I chose Emory because I fell in love with it (and I’m the first in my family to go to a good college or be accepted to one)…</p>

<p>Go to a financial safety unless you are 100% certain you can pay.</p>

7

<p>A Plus loan is not a co-signed loan. It is a parent only loan.</p>

8

<p>mom2collegekids</p>

<p>I guess that is pretty much impossible then isn’t it? </p>

<p>I guess my options are now down to sitting out a year or transferring…</p>

9

<p>Oh I forgot to mention that the loan was originally requested for $20,000 (I had only seen anticipated aid which was slightly less then added in some for books etc)</p>

<p>is there a possibility that they may approve a $14,000 loan even though my mom makes only $24,000…i can’t see that happening.</p>

10

<p>*
I guess my options are now down to sitting out a year or transferring…*</p>

<p>Yikes…</p>

<p>Call and email the director of the FA office with your situation.</p>

<p>Transferring is probably not going to work out for you because your new school won’t give you much aid either.</p>

<p>If you have to “sit out a year,” ask Emory if you’ll get a better or worse package next year.</p>

11

<p>Well I know I’ll get a better package next year.</p>

<p>This year I have tax returns that say my family is pulling in $55K…next year it will show my family making $24k (which is what is really going on). </p>

<p>I think I may qualify for a Pell Grant but I’m not sure. </p>

<p>I’ll call tomorrow…but I have told my personal advisor two or three times I’ll have to sit out or transfer. The first time he ignored me but then finally his response was that I should contact the office of undergrads to find out about sitting out.</p>

12

<p>Your advisor has NOTHING to do with your aid packages.</p>

<p>you need to contact the head of the FA office and get something firm (in writing, hopefully) that if you stay out for a year, and resubmit FA info next year on time, that your aid package will be like last year’s package (or better).</p>

13

<p>Okay thanks. I’ll call tomorrow and ask to speak to the head of the FA office.</p>

14

<p>Could you earn some credits at a local CC and see if you can get a ‘professional judgement’ from FA for Spring term?</p>

15

<p>You need to talk to the folks at Emory. Tell them your situation, and why the forms were late (perhaps they will be understanding…). Transfering NOW for September is not going to net you a significant amount of financial aid ANYWHERE. The deadlines for fall transfers were a long while ago and so were the financial aid and the application deadlines. Also, you need to understand that in many cases transfer students do NOT receive the same level of institutional need based aid as students who applied and were admitted as freshmen.</p>

<p>Please give Emory a call…and talk to a higher up financial aid person there. If that person isn’t helpful, ask to talk to someone else.</p>

<p>I wish I could offer better advice but since you missed the deadlines, you may be out of luck for this year. That wasn’t the school’s fault…</p>

<p>You need to talk to the folks at Emory in the financial aid department. Explain WHY these forms were late. Perhaps they have some institutional money left to help you out.</p>

<p>Re: loans…I’m not sure how you would get $14000 in additional loans.</p>

16

<p>I’m wondering if students can update their FAFSA or request an adjustment for changes in the parent’s marital status…I know the student’s marital staus can’t be amended, but does anyone know what the rule is for parents? </p>

<p>Normally, students who have recently separated parents are allowed to file FAFSA with only the custodial parent’s
info, which would eliminate your stepdad’s contribution to EFC. If you (or your school) can update your FAFSA to reflect only your mom’s portion of the income and assets for last year (this is an IF so please don’t get your hopes up - it may be something you have to request professional judgement for!), you may qualify for a Pell grant (and possibly a second year ACG if you meet the criteria - again, this might take a little effort/research). This wouldn’t give you as much aid as you need but it might get you closer. Please find someone knowledgeable in the FA office to talk to asap or at least call the FAFSA help desk to see if you can amend your FAFSA!</p>

17

<p>Hmmmm…I thought the marital status of the parents was also as of the original filing of the FAFSA. </p>

<p>This student needs to talk to the folks at Emory and explain the situation. Most colleges do NOT want to lose good students…and maybe they will view the late filings as extenuating circumstances…maybe…if the reasons can be fully explained and documented.</p>

18

<p>*But most financial aid in public schools are bad, or worse then Private schools, because most public college/unis have low endowments, and mostly public funded. *</p>

<p>I wonder what happens when one parent dies after filing FAFSA?</p>

19

<p>I think I found the answer…for divorce/separation/death after the original FAFSA filing date, the student must request professional judgement and supply documentation (sep/div agreement, death certificate, etc.) and the school can amend the FAFSA EFC (but is not required to).</p>

20

<p>I would be inclined to use PJ to adjust the income for a parent who gets divorced from a step parent before school even begins. I might not be so inclined for biological parents, but it’s not realistic to expect a divorced step parent to contribute to the student’s education. It’s definitely worth requesting a special circumstances review. It is possible that even if your review is approved, you might only get an increase in federal grants (meaning just a Pell & maybe ACG). It depends on the policies of your financial aid office. If you hope to receive an increase in school grants, PLEASE be sure to explain that the reason you were late getting info in was due to the issues that led to the divorce. Be specific. You have a better chance of <em>maybe</em> getting an increase in the university portion of your grants if you make a good case for yourself.</p>