I have a financial aid issue?

Question by Erik: I have a financial aid issue?
hi i have an issue with financial aid.

i start college THIS JANUARY!! and i have yet to applied for financial aid because i fear that i wont recieve any aid at all, and they will only try to convince me to get student loans and i do not want that.

my father makes roughly 150,000 to 200,000 a year and he recieves almost 40 thousand in his taxes my mom and father file together, well i’d like to know if theres anyway i can recieve financial aid to attend community college? and the financial aid that you dont have to pay back my friend only lives with her mother and she recieves financial aid But she also gets a check for almost 3,000 dollars from financial aid! to spend it on whatever she wants, how can i get this sort of aid?

someone please explain this process to me

Best answer:

Answer by Tom
The great majority of college financial aid is awarded based on need. You can get it if you are determined to have financial need, based on your responses on the FAFSA form. Don’t expect to get aid by sitting in your room wishing you’d get some. You will HAVE to apply for aid or you will get nothing.

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One thought on “I have a financial aid issue?”

  1. The term “Financial Aid” includes all types of aid you get for college including LOANS and grants. Generally until you are 24 or older, married, have kids you suppport or become a veteran or earn a bachelors degree you are required to list your parents income on the fafsa application at http://fafsa.ed.gov.

    They will ask for your and your parents income information to see if you qualify for the free stuff (like grants). Those that say they are getting “financial aid” are usually getting loans. Only some get grants and some opt to take out grants and loans by filling out the fafsa. You will not be eligible for free grants with parents whos income is so high, but you will be eligible to take out low interest federal student loans if your parents don’t want to help you pay for it.

    Sorry, unless you decide to take out a loan (called a Stafford loan) your school won’t be getting any money to help pay your tuition which means no checks for 3000 or anything. The most you can borrow as a dependent freshman is 5500 a year. Since you are only attending in the spring, you can borrow half of this… (2750) for your spring semester. If you have any money left over after your tuition and fees are paid your school will give you the extra 4 weeks after the first day of class. (Providing you apply early enough… you wait too much longer and you may get this refund check much much later).

    You don’t start repaying that student loan until after you graduate or drop below full time enrollment. Perhaps your parents will take out a PLUS loan for you. They repay this one and that way you don’t have to take out loans!

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