What loans (if any) should I take out?

Paying for College
21

@thumper1 Yes, I realized that which is why I had edited it.

http://www.csus.edu/faid/financial%20aid%20basics/Cost%20of%20Attendance.html

$6,872 tuition + fees
Add in any course specific fees + textbooks, and you’re looking at ~$8000 in expenses.

It sounds as if you’ll need all your work earnings for personal expenses & maybe to help out at home; taking some of the subsidized loan for school costs won’t be too bad.

The COA is about $15k for commuting students. You will be allowed to take the full $5500 loan, which may be tempting, but it does not mean that you should.

22

The $6872 is tuition and fees. And when you add the personal expenses and books to that, it is likely to be more. But really…the $5500 Calgrant, and the $3500 Sub loan is $9000. That and a job should cover it. And if not, the $2000 unsubsidized loan would be available if needed.

23

<<
ometimes schools will remove the child support if it is ending. Contact financial aid, not admissions, to ask how to request Professional Judgment for loss of child support. $11,000 is a significant loss, and they may well adjust income if you can prove it will end. It may or may not be enough difference that you qualify for Pell … but it will be worth finding out.
<<

The student really needs to contact the FA office to get PJ to get that CS removed.

It’s best to get this going now, so there will be precedence for next filing of FAFSA that will also be using 2015 income (is that correct @kelsmom )

24

But really…to,the OP. Even without professional judgment, you seem to have sufficient aid to attend this school as a commuter.

25

They’ll have to request the PJ again next year … the cross over year is going to be a pain. If it’s approved in the first year, though, I assume it would be approved again the second year. Some schools won’t do PJ’s for loss of income, but you don’t know until you try.

26

Also does your dad’s support obligation end after child support ends? Or is there a support order in place for college?

27

It ends as soon as I’m 18 and then there will likely be no contact with him at all.

28

Okay, thank you. It sounds like I’ll only need the grant and subsidized loan which is fine with me.

29

http://www.csumentor.edu/finaid/pais/ is the CSU net price calculator.

For CSU Sacramento, student with 3.0 GPA Cal grant eligibility and single parent, $41,000 income and $11,000 child support, it estimates:

$15,932 cost of attendance, including $6,872 tuition, with the rest being books, living expenses, transportation, and personal expenses
$6,252 grants = $780 Pell grant + $5,472 Cal grant
$9,680 net price

Is the above similar to your actual financial aid?

You can take a federal direct loan of $5,500 and probably cover the rest with part time work earnings and/or being frugal (i.e. spending less on living expenses, transportation, and personal expenses) to cover the net price listed above.

When the $11,000 goes away, leaving only $41,000, it estimates:

$9,452 grants = $3,980 Pell grant + $5,472 Cal grant
$6,480 net price

30

Yes, you award letter should have explained costs and awards. So cost to you is really only the Tuition and Fees which Cal Grant A mostly covers. Then you will need books. Buy used books or rent books on Cheeb or similar site. Swap with friends.

To get Cal Grant A for family of two income has to be under $81k. For Cal Grant B income has to be under $38k. So it is very important that you listen to posters here and esp kelsmom and ask the financial aid office, in writing and on phone, for “professional judgement to adjust your EFC since Child support will be ending on X date when you turn 18”. This will get you Cal Grant B, which will give a bit more money (about 1,700). And possibly a bit of Pell Grant too (maybe 1,000). And if they don’t give it for this year, be sure to ask again next year because they are going to use 2015 FAFSA numbers one more time. After the child support is not coming they should for sure adjust this.

31

@Megan639 Please pursue the adjustment because CS is ending. You may think that loans are fine, but if you can get a Pell Grant instead, that can make a huge difference in the long run.

You’re commuting. You could have car trouble or something else and your mom won’t be able to help you out. She’ll really be missing that money. You’ll be living at home w/o any support coming in.

Go to the school with paperwork that shows that CS is ending. Take that to the Financial Aid office and ask for Professional Judgement to have your EFC adjusted.

32

yes and cal grant B will give 1700 extra each year. The university pays your tuition the first year and cal grant pays 5500 all the other years plus 1700 living expense. Make it easy for them, given them any court order that shows it ends when 18 y.o. plus a statement for reason for no contact.