[ChunJin]

I'm on the Stafford loan.

I was curious; say if I paid for two quarters in my first year (roughly $875 each). I'm in my second year - second quarter. I'll be getting $1,166.67 every quarter [I think that's the number o_O]. I was curious on a few things. Can I get reimbursed for the first year o_O? I remember when I was first on the Stafford loan... I paid a bit of my loan since it was coming late on a short term loan and was reimbursed for that.

[eLPy]

hey! thank you for ur help. it's really nice of you...
my question is,

after i've used up all the other awards (scholarships, grants, stafford loan)
is the federal PLUS loan the best loan to go with?
or should i check out some other lenders as well?

[brandonbkim]

I'm currently working at a research lab for about 9 hours a week for $10 an hour. Will working at the lab affect my financial aid for the next school year?
thanks

Depends. It will probably not effect your loans, but if you're getting grants, it might get lowered.*************************************************************
hello,
my friend doesn't want to file for financial aid because his mom makes too high of an income to qualify for money, BUT he is currently (and will be for a long time) the only one that's supporting himself to go to school and stuff ... so is it possible for him to declare himself independent at the age of 18-19?

thanks.

I think I already sent you the response by PM. Good luck
***************************************************************
I'm taking 5 years to earn my double major. After that, I'm going to take a year off to work before I head off to law school. So my question is, do I have to start repaying my loans in that year off. If so, do I still keep on repaying those loans after I come back to (law) school?

Thanks

Are you going to be taking the law school at the same school? If not it can be a little tricky, but not impossible. You just need to request an "in-school deferment form" from your lender that you used for the undergrad, and have the registrar from your law school fill it out. Send in the deferment from via fax or mail to the lender and it should be fine.
***********************************************************

Hi Brandon, (I am not sure if this is your name, but if it is not then I am sorry)

Can I ask what you major in? I am interested in your career path to get where you are right now. You know a lot about fin. aid. is there a major for it? thanks again. Your input is much appreciated.

I was a economics major and studied accounting and a little bit of finance. The opportunity just came up one day and I took it. The problem becoming a financial aid advisor isn't really the qualification but to find a school that needs an employee. You should have a bachlor's degree in related to some kind of business. Just look online and apply. Good luck to you.

**********************************************************

Hey Mr. Kim,
I want to take out a private loan ($20,000 or so). Where would be the best place to go, I don't want to pay it off until I'm out of college and I want the cash in my account (for personal expenses) instead of it going directly to the school. Any ideas?

I think I posted the answer couple pages back. Try Sallie Mae or even a Chase bank. Just like a car, you have to shop for loans. Just warn you that the interest rate will be insanely high.

**********************************************************

hey brandon,
i took two years of community college and received financial assistance for about a year and a half. i plan on transferring to a private art school in the fall of 2007. i live on my own and am 22 years, so i know my mom will have to be on fafsa. what are my options for financial aid? thanks for any help.

Private art schools will have less financial aid compared to state funded schools. As well as it will be very expensive. Try to get a lot of governemental loan, and if that's not enough go for a parent PLUS loan. Even though you have to pay it while you're in school, it will be so much better in the long run.


**********************************************************
I'm on the Stafford loan.

I was curious; say if I paid for two quarters in my first year (roughly $875 each). I'm in my second year - second quarter. I'll be getting $1,166.67 every quarter [I think that's the number o_O]. I was curious on a few things. Can I get reimbursed for the first year o_O? I remember when I was first on the Stafford loan... I paid a bit of my loan since it was coming late on a short term loan and was reimbursed for that.

Were you qualified for grants or is it strictly loans? And if it's a loan, unless you really need it, try not to take it out. If you must, take out the "subsidized" stafford loan. You cannot get reimbursed if it has been over a year.

************************************************************

hey! thank you for ur help. it's really nice of you...
my question is,

after i've used up all the other awards (scholarships, grants, stafford loan)
is the federal PLUS loan the best loan to go with?
or should i check out some other lenders as well?

Yes the parent PLUS loan is the next best option after the ones mentioned above. I know it sucks cause you have to start paying for it 6 month after you BEGIN attending the classes, but it's not like you'll be staying in school for 6 years or anything like that, so it's the best option. Remember, Plus is under your parents, so they are liable, unlike staffords which the student is liable.

[redringlets]

hey brandon,
i took two years of community college and received financial assistance for about a year and a half. i plan on transferring to a private art school in the fall of 2007. i live on my own and am 22 years, so i know my mom will have to be on fafsa. what are my options for financial aid? thanks for any help.

Private art schools will have less financial aid compared to state funded schools. As well as it will be very expensive. Try to get a lot of governemental loan, and if that's not enough go for a parent PLUS loan. Even though you have to pay it while you're in school, it will be so much better in the long run.

The parent plus loan--I'm assuming a parent would have to apply for that with me? My mom has really bad credit and I don't think I would qualify for that. Does she have to have really good credit? Am I just crap out of luck?

[msmel]

I have a question!

I am currenly in my 3rd Quarter pursing a 2 year degree in accounting. I am independant and work full-time. I applied for financial aid and did not qualify for any "free money" this past year alone I made $30K just working. when I applied for Financial aid my EFC was 9000 based on 2005 income which was like 25K. So basically all I have is loans. What suggestions could you make to maybe open my chances of recieving grants?..I think its my income I do have a child tho, but he doesn't live with me. He's currently with my parents while I'm in school. They claim him for taxes..I hear you can get grants if you have a dependant. Would the whole tax situation ruin my chances?

[cocoa]

Brandon! I have a question about taxes and financial aid...(this might sound like a silly question). If we get loans and financial aid, when we do our taxes do we have to put it in? And what if I am still a dependent? Last year I was on work study but I only made about 200 dollars so I didnt file taxes...but I also did have loans and scholarships. This year I know I will have to file because I made money during the summer too...but do I also have to write in the loans and scholarships from 2006 from school?

[eLPy]

hi brandon! thanks for answering my previous question. I need help deciding on which loan to get... I'm not good with loans and fiancial stuff, so can you help me decide? Thanks... It's reallllly nice of you to help the soompierS!

which loan would be the best?
my total loan amount is $15000...





thank you for the help!!!
i don't really know how the loans work... or have any clue what the terms mean! -.-

[angelicXD]

I have a question.

My mom just took me off of the household and now I'm independent. Seems like you have answer the independent question.
My mom received food stamp and SSI and she took me off so when I have a job it won't affect the food stamp. However, I don't plan on living
in the dorm next year and I don't have an address to put when filling my FASA for 2007-2008. Can I used my mom's address for Fasa and my jobs?

Also, I have a summer job over the summer and I made $6.5 an hour. There were a limit of hour we can only work. It was 120 hour but I work less than 120. Should I file income tax for Fasa?

[autumnyaar]

It's pretty awesome that you are doing this.

I'm really confused about the Financial Aid situation. I just filled out my FAFSA today. I'm entering my first year of college in August and I decided to study abroad in Egypt. The tuition is 15,000$, plus 3000$ for the dorms and basic living expenses ect. Now I definitely don't have ANY money for college, and my family can't really contribute either. My Mom is a single parent of three and I am the first one in my family to go to college. I work, but I only made 5000$ this year. I'm not an excellent student, but I do have a 3.0.

A lot of my counselors are convinced since I come from a single parent family that I'm going to get a free ride to college or something. Is that true? My Mom has been a single parent for 14 years.

I'm also concerned because I'm directly enrolling in a college overseas. Will that mess with the amount of money they are willing to give me?

[brandonbkim]

hey brandon,
i took two years of community college and received financial assistance for about a year and a half. i plan on transferring to a private art school in the fall of 2007. i live on my own and am 22 years, so i know my mom will have to be on fafsa. what are my options for financial aid? thanks for any help.

Private art schools will have less financial aid compared to state funded schools. As well as it will be very expensive. Try to get a lot of governemental loan, and if that's not enough go for a parent PLUS loan. Even though you have to pay it while you're in school, it will be so much better in the long run.

The parent plus loan--I'm assuming a parent would have to apply for that with me? My mom has really bad credit and I don't think I would qualify for that. Does she have to have really good credit? Am I just crap out of luck?

Plus loan does require good credit from your parents. Have her apply for it. If she gets denied, there will be additional stafford loans available for you to take. But that is if and only if your parents are denied for the PLUS loan.
*****************************************************
I have a question!

I am currenly in my 3rd Quarter pursing a 2 year degree in accounting. I am independant and work full-time. I applied for financial aid and did not qualify for any "free money" this past year alone I made $30K just working. when I applied for Financial aid my EFC was 9000 based on 2005 income which was like 25K. So basically all I have is loans. What suggestions could you make to maybe open my chances of recieving grants?..I think its my income I do have a child tho, but he doesn't live with me. He's currently with my parents while I'm in school. They claim him for taxes..I hear you can get grants if you have a dependant. Would the whole tax situation ruin my chances?

Try including your child in the household. You may need a letter from your parents saying that you pay for more than half of the support for your child. The biggest thing that affects the EFC is the number in household. However, you may come back with a C-code(read few pages back) that you may have to clear if your child is not in the government records.
******************************************************

Brandon! I have a question about taxes and financial aid...(this might sound like a silly question). If we get loans and financial aid, when we do our taxes do we have to put it in? And what if I am still a dependent? Last year I was on work study but I only made about 200 dollars so I didnt file taxes...but I also did have loans and scholarships. This year I know I will have to file because I made money during the summer too...but do I also have to write in the loans and scholarships from 2006 from school?

There are separate sections in the fafsa for your income and parent incomes. Scholarships and loans does not count as income, so you will not have to include it in your earnings.

****************************************************

hi brandon! thanks for answering my previous question. I need help deciding on which loan to get... I'm not good with loans and fiancial stuff, so can you help me decide? Thanks... It's reallllly nice of you to help the soompierS!

which loan would be the best?
my total loan amount is $15000...

thank you for the help!!!
i don't really know how the loans work... or have any clue what the terms mean! -.-

Try Sallie Mae. Call them up to see if you can get a "college advantage loan". The interest rate is heavily based on the credit score, so you may need a good co-signer. Try to get someone that will fall under at least a tier 3 credit.
*****************************************************
I have a question.

My mom just took me off of the household and now I'm independent. Seems like you have answer the independent question.
My mom received food stamp and SSI and she took me off so when I have a job it won't affect the food stamp. However, I don't plan on living
in the dorm next year and I don't have an address to put when filling my FASA for 2007-2008. Can I used my mom's address for Fasa and my jobs?

Also, I have a summer job over the summer and I made $6.5 an hour. There were a limit of hour we can only work. It was 120 hour but I work less than 120. Should I file income tax for Fasa?

Yes just use your mother's address, it will not affect her SSI. You should always file taxes if you can get any refunds. People have a myth that if you file tax, you will receive less financial aid. That is absolutely wrong. Also, if you made over 7800, you must file tax or you will not be able to receive any financial aid.

****************************************
It's pretty awesome that you are doing this.

I'm really confused about the Financial Aid situation. I just filled out my FAFSA today. I'm entering my first year of college in August and I decided to study abroad in Egypt. The tuition is 15,000$, plus 3000$ for the dorms and basic living expenses ect. Now I definitely don't have ANY money for college, and my family can't really contribute either. My Mom is a single parent of three and I am the first one in my family to go to college. I work, but I only made 5000$ this year. I'm not an excellent student, but I do have a 3.0.

A lot of my counselors are convinced since I come from a single parent family that I'm going to get a free ride to college or something. Is that true? My Mom has been a single parent for 14 years.

I'm also concerned because I'm directly enrolling in a college overseas. Will that mess with the amount of money they are willing to give me?

I think you should speak directly with your financial aid advisors. Some program allows students to borrow from the fafsa, while other programs do not. Your counselor may be right but it really depends on what abroad program you enrolled in. If your mom is a single parent and with three kids, you should be getting a good amount of financial aid. But I say definately check with the financial aid advisors that you signed up with.

[theedqueen]

Hey there,

this will be my first year doing work-study along with the rest of my financial aid. I've never done taxes before and I don't even know where to start. Since the job I have is work-study, will my employers have all the paperwork I need to file my taxes? How much of this is my responsibility? Sorry if this is a really broad question, thanks for your help!

-theed

ps. If you want to quote a lot of the posts in your replies, you can just click on the "quote" button under every post and then scroll down to the bottom and hit "add reply". It'll quote all the posts for you so you don't have to copy and paste.

[Sol Doubt]

Hey brandon,

I was thinking of getting a apartment fr my senior year and was wondering how living off campus would affect my financial aid. I have a full tuition scholarship that does not cover board but I get loans/grants. So if it was that I would get a apartment next year would I expect to lose the loans/grants?

Thanks!!!

[MULOAN]

hi brandon! my family currently has 4 kids, but soon it might jump to 5 kids. i want to know what is the maximum income that my dad can earn before i am not qualified for financial aid. thank youu!

[roar00]

um financial aid offfered me the federal direct stafford loan..but i rejected it...but now i decide that i might need it...is there a way..i can get it back...or is it too late?
thanks in advance

[Sky's Crying]

"FED.DIR.LOAN-SUB1 FL"

that just means, federal direct loan (subsidized) right?

[spicyspaghetti6]

i would check and see if someone already asked my question but this thread is way too long. my question is (and i'm not really sure if you can answer this question), if someone has already graduated from a unversity and is pursuing more school, how many times can one extend nonpayment (or what's the factors that a lender considers for extending the payment date)? i just recently graduated and i'm currently in my 6 month grace period with wachovia; payment date hasn't arrived yet. thanks.

[mofomofo]

im an incoming freshmen and am living with a single parent, my mom. I missed fafsa for this year, but am planning to fill it out next year. My mom makes exactly 30,000 a year, but my dad is rich. Do I have to give them my dads income? Will they somehow figure out that I have a dad who can provide me with school, because as of now, my mom is too poor to provide me with school. thank you

[tian]

okay.. so the payment for the plus loan happens 6 months after you enter school. How long of a duration do they give you? to pay it off?

[hellboy]

Can you tell me how to write a appeal letter for not making satisfactory academic progress ? Some samples would be great. Thank you !

NVM....I got my answer !

[lilshinhwafreak]

thanks so much for having this thread.

i have a couple of questions.

1. i heard of pastors' children getting special benefits from schools since a pastor's income isnt that great. is there such thing?

2. my parents currently live in Korea, but still files tax returns and stuff because my brother and i both go to school here and need the fafsa help. are there any special financial aide that i should look for students who are in the same situation as i am?