[KeepinItReal]

dang thanks for the help brandon, i appreciate it. lmao

[sandy k]

i got an email about a acg(?) grant back in july i think and i haven't heard about it since. did they contact those receiving it already?

[xkrn4lyfx]

wow! how perfect ><

ok here's my situation:

I filled out my fafsa using info from 2 yrs ago only changing info for the new estimates for income however i was unable to get in my parents pin number in on time for the deadline and missed it. i still intend on attending college but i need loans since i won't be getting any grants, but to do that i was told that i need to fill out fafsa. now i'd like to know which part of the fafsa process i'm at, or did i do anything illegal by not giving out a printed copy of fafsa to my parent's accountant and so i need to start a new fafsa?

what other financial options would be available regarding my past low quarter gpa (so schlorships are out of the question) i'm guessing i would need most to all my college costs paids for and last year i lived in dorms and it cost total of around 15,000 but w/o housing i'm guessing it would still be around 9,000 for school and i still need to consider food and apartment costs. i attend UCR if it makes any difference, thx in advance

[ngaouction]

what "special things" can you put down under financial aid to get extra money for? my friend told me that at san diego state, you're able to request fin aid for getting a laptop, although they don't advertise it because they don't want everyone to go out and do it and he was actually able to. i go to UCLA, so i wasn't sure if that would apply to me and if there were other little things like that.

[babyvox012]

I just recently found a HUGE mistake in my financial aid which would have had me get a lot more financial aid.

I just fixed it, but would I still be able to recieve more financial aid? Or is the reasons for corrections just for the federal gov'ts own personal records?

im really worried!

an update to my situation:

so the office says it will take a couple of weeks to find out and it is not guarenteed that i will recieve any financial aid. But if my efc changed from $6000 to $3000, is it likely that I will recieve SOMETHING?


thanks so much for your help!

[ichiban]

I'm planning to study abroad in a couple years, I'm just wondering how will i use my financial aid to pay for the tuition overseas (as in will i just have to pay my home school fees and attend the other college)? Also, when is the best time to notify financial aid once i know i've been accepted?

[quangdaika]

My friend is thinking of reporting that he move out of his parents' house to get more financial aid. Will this work. How should he report it?

thanks.

[dutsukyampu]

i got an email about a acg(?) grant back in july i think and i haven't heard about it since. did they contact those receiving it already?

i got that too.
hadn't heard anything about recieving it until i called the finaid at my college. they only contacted me for my HS transcript, and fill out some questions on the fafsa.

[LoH_Ter]

Hi, brandon. First of all--thank you so much for all your information! You rock.

I have a few questions. I recieved fincancial aid from the UW-- all grants and work study. After I pay my tuition, I have quite a bit left over. Is there any limitation in how I can use this money? For example, i had a huge back surgery recently, so I can't carry anything over 10 lbs and getting those rolling backpacks is not recommended. My plan is to buy a light laptop and transfer all the pages I need for my textbook each day to it and keep my textbooks at home...can I use my financial aid money to buy this laptop?

Also, is financial aid taxed?

[ngaouction]

what happened to the guy who was supposed to help us?

[말라카]

what happened to the guy who was supposed to help us?

he has a life.....

[brandonbkim]

i got an email about a acg(?) grant back in july i think and i haven't heard about it since. did they contact those receiving it already?

That's a hit or miss. But just to be sure, you should check out your financial aid office to make sure that they received it. If they're giving you a hard time, go to your accounts receivables and get a print out of the ledger card.
************************************************************
wow! how perfect ><

ok here's my situation:

I filled out my fafsa using info from 2 yrs ago only changing info for the new estimates for income however i was unable to get in my parents pin number in on time for the deadline and missed it. i still intend on attending college but i need loans since i won't be getting any grants, but to do that i was told that i need to fill out fafsa. now i'd like to know which part of the fafsa process i'm at, or did i do anything illegal by not giving out a printed copy of fafsa to my parent's accountant and so i need to start a new fafsa?

what other financial options would be available regarding my past low quarter gpa (so schlorships are out of the question) i'm guessing i would need most to all my college costs paids for and last year i lived in dorms and it cost total of around 15,000 but w/o housing i'm guessing it would still be around 9,000 for school and i still need to consider food and apartment costs. i attend UCR if it makes any difference, thx in advance

You must fill out a fafsa every year. Using an approximate income information will not guarrentee that you'll receive the funds. So get a copy of the 2005 taxes/W2s for you and your parents and send it over when you fill it out. Depending on your income you may be able to qualify for the federal pell grant as well as the state grants that is available. I'm not sure about the rules for each state, but I know in some states, even if you are eligible for the state grants, if you wait too long, the funds will run out. so act fast. If you need 15,000 try to go with the grants and the federal subsidized and unsubsidized loan. If your parents can take out a PLUS loan that will be great too. But keep in mind that you have to pay them off after 6 monthes.

*******************************************
what "special things" can you put down under financial aid to get extra money for? my friend told me that at san diego state, you're able to request fin aid for getting a laptop, although they don't advertise it because they don't want everyone to go out and do it and he was actually able to. i go to UCLA, so i wasn't sure if that would apply to me and if there were other little things like that.

That will depend on where you are. I don't know about your school, but where I work, the laptop program basically means you're just paying for it through your financial aid, which means you'll have that much more that you will owe and have to pay back after you graduate. Usually they do not allow students to upgrade any specs, and it's a pretty crappy computer and the school charges a fortune for it....
*******************************************
an update to my situation:

so the office says it will take a couple of weeks to find out and it is not guarenteed that i will recieve any financial aid. But if my efc changed from $6000 to $3000, is it likely that I will recieve SOMETHING?


thanks so much for your help!

Thanks for the update. if your EFC changes from 6000 to 3000, it will make a big difference. For example, you will receive no pell grant if your EFC is 6000, but if it is 3000 or lower you will get at least a grand.

*********************************************
I'm planning to study abroad in a couple years, I'm just wondering how will i use my financial aid to pay for the tuition overseas (as in will i just have to pay my home school fees and attend the other college)? Also, when is the best time to notify financial aid once i know i've been accepted?

You know what? Depending on how the program is run, it is very difficult to give you an answer for this. I suggest that you speak with your advisor and see if you're allowed to take out federal loans for this program.
**********************************************
My friend is thinking of reporting that he move out of his parents' house to get more financial aid. Will this work. How should he report it?

thanks.

It will have zero effect on the financial aid. Tell him not to even bother.

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

Hi, brandon. First of all--thank you so much for all your information! You rock.

I have a few questions. I recieved fincancial aid from the UW-- all grants and work study. After I pay my tuition, I have quite a bit left over. Is there any limitation in how I can use this money? For example, i had a huge back surgery recently, so I can't carry anything over 10 lbs and getting those rolling backpacks is not recommended. My plan is to buy a light laptop and transfer all the pages I need for my textbook each day to it and keep my textbooks at home...can I use my financial aid money to buy this laptop?

Also, is financial aid taxed?

Awesome! you're in a situation where everyone wants to be. You have qualified for those grants and they exceed the tuition. Unless your school has a specific policy about refunding, you should be receiving whatever the difference is in your check. I had a friend who used to get $2000 every semester in cash because he overqualified for his grants. Financial aid is not taxed.
***********************************************

what happened to the guy who was supposed to help us?

Sorry man, I've been really busy lately. I just bought a house and it's been a crazy month.

[luvelyasian]

Lender

Loan Servicer

Special Benefits/Incentives

I applied for a student loan so my parents won't have to pay off so much money right away, but they're the ones that will pay for it probably.

The problem is I'm not sure which is the best one. There is a chart of choices that my school sent me, but the technical terms are confusing, I don't know which one to go with or which company is trustworthy and my parents don't know English really so I can't ask them.

I would be really grateful for your input. I thank, thank, thank, thank you in advance

1) Lender
College Loan Corporation
1.888.972.0852
(collegeloan.com/stonybrook)

Loan Servicer
CLC Servicing/ACS

Special Benefits/Incentives
1% cash rebate after graduation and one on time payment*
10% credit of principal balance outstanding after making 48 consecutive, scheduled payments on time*
0.25% interest rate reduction for enrolling in automatic payments
One Call Promise eliminates phone tag and resolves matters quickly
Loan consultants available 24 hours a day, 7 days a week to assist with application process
* 1% rebate must be requested in writing by borrower after making the first scheduled post-graduation payment on time, but prior to the 180th day after the first post-graduation payment is received. Underlying loans must still be in active repayment with CLC. Rebate request forms are available online at www.collegeloan.com/rebaterequestform or call 888.972.6313. 10% credit is automatic and does not require submission of a rebate request form.


2) Lender
Academic Finance Corporation (AFC)
1.800. 835.1161
(afcschools.com/stonybrook)

Loan Servicer
ACS

Special Benefits/Incentives
0.25% interest rate reduction upon entering repayment
1.75% interest rate reduction for electronic payments from borrower’s checking or savings account
Borrower must enroll in the Checkmate II Electronic Payment Program with the loan servicer (ACS) in order to qualify for the 1.75% interest rate reduction. Please contact ACS at 1.800.835.4611 to request a Checkmate II Authorization Form and instructions.


3) LenderAcademic Management Services (AMS)
1.800.637.3060
(amsweb.com)

Loan Servicer
SallieMae

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
Upon graduation:
2.00% credit or check at repayment
An additional 2.00% credit or check after 12 on-time monthly payments
Borrowers will receive a year’s worth of loan interest from their first Unsubsidized Stafford Loan as a credit shortly after graduation
An additional .50% interest rate reduction after making 36 on time monthly payments as initially scheduled. Benefit continues as long as payments are made by the due dates.


4) Lender
Chase Education Finance
1.800.487.4404
(chasestudentloans.com/custom/sunysb/)

Loan Servicer
ACS

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
An immediate 0.25% interest rate reduction for automatic direct debit of payments
Principal balance reduction or money back feature equal to 3.00% of the original amount borrowed after the initial 24 months of continuous and on-time principal and interest payments
An additional 2.00% reduction of the original amount borrowed after the initial 36 months of continuous on-time payments.


5) Lender
Citibank
1.800.967.2400
(studentloan.com/schools/suny/stonybrook)

Loan Servicer
Citibank

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
1.00% interest rate reduction for borrowers who make their first 36 monthly payments on time
Additional 1.00% interest rate reduction for borrowers who make their first 48 monthly payments on time
0.25% interest rate reduction for borrowers who have their loan payments automatically withdrawn through Citibank’s E-Z Pay Service
Last six payments waived-Specific terms and conditions apply, visit studentloan.com/zero or call 1-800-967-2400


6) Lender
Wachovia Education Finance
1.800.338.2243
(wachovia.com/education)

Loan Servicer
AES

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
Immediate 1.00% rebate at repayment
Additional 1.00% interest rate reduction for borrowers who make their first 12 monthly payments on time.
Additional 1.50% interest rate reduction for borrowers who make their first 24 monthly payments on time.

[dkstariob]

Hey Brandon. Major kudos for doing this. I have a question.

Is there a way the government can check EXACTLY how much you have in your check account/savings? Do they check regularly? Do they often check to see if the number matches the one you put on Fafsa? I'm asking because freshmen year I remember I put $0 on my account when in really i had around $200 or so. No major problems. This time I have around 6 gs.

Do they expect you to use the money in your account strictly for school? What I want to know is if they will deduct aid from me because they'll "assume" that I have some of it covered with the money in the account?

Thanks.

[brandonbkim]

Lender

Loan Servicer

Special Benefits/Incentives

I applied for a student loan so my parents won't have to pay off so much money right away, but they're the ones that will pay for it probably.

The problem is I'm not sure which is the best one. There is a chart of choices that my school sent me, but the technical terms are confusing, I don't know which one to go with or which company is trustworthy and my parents don't know English really so I can't ask them.

I would be really grateful for your input. I thank, thank, thank, thank you in advance

1) Lender
College Loan Corporation
1.888.972.0852
(collegeloan.com/stonybrook)

Loan Servicer
CLC Servicing/ACS

Special Benefits/Incentives
1% cash rebate after graduation and one on time payment*
10% credit of principal balance outstanding after making 48 consecutive, scheduled payments on time*
0.25% interest rate reduction for enrolling in automatic payments
One Call Promise eliminates phone tag and resolves matters quickly
Loan consultants available 24 hours a day, 7 days a week to assist with application process
* 1% rebate must be requested in writing by borrower after making the first scheduled post-graduation payment on time, but prior to the 180th day after the first post-graduation payment is received. Underlying loans must still be in active repayment with CLC. Rebate request forms are available online at www.collegeloan.com/rebaterequestform or call 888.972.6313. 10% credit is automatic and does not require submission of a rebate request form.
2) Lender
Academic Finance Corporation (AFC)
1.800. 835.1161
(afcschools.com/stonybrook)

Loan Servicer
ACS

Special Benefits/Incentives
0.25% interest rate reduction upon entering repayment
1.75% interest rate reduction for electronic payments from borrower’s checking or savings account
Borrower must enroll in the Checkmate II Electronic Payment Program with the loan servicer (ACS) in order to qualify for the 1.75% interest rate reduction. Please contact ACS at 1.800.835.4611 to request a Checkmate II Authorization Form and instructions.
3) LenderAcademic Management Services (AMS)
1.800.637.3060
(amsweb.com)

Loan Servicer
SallieMae

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
Upon graduation:
2.00% credit or check at repayment
An additional 2.00% credit or check after 12 on-time monthly payments
Borrowers will receive a year’s worth of loan interest from their first Unsubsidized Stafford Loan as a credit shortly after graduation
An additional .50% interest rate reduction after making 36 on time monthly payments as initially scheduled. Benefit continues as long as payments are made by the due dates.
4) Lender
Chase Education Finance
1.800.487.4404
(chasestudentloans.com/custom/sunysb/)

Loan Servicer
ACS

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
An immediate 0.25% interest rate reduction for automatic direct debit of payments
Principal balance reduction or money back feature equal to 3.00% of the original amount borrowed after the initial 24 months of continuous and on-time principal and interest payments
An additional 2.00% reduction of the original amount borrowed after the initial 36 months of continuous on-time payments.
5) Lender
Citibank
1.800.967.2400
(studentloan.com/schools/suny/stonybrook)

Loan Servicer
Citibank

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
1.00% interest rate reduction for borrowers who make their first 36 monthly payments on time
Additional 1.00% interest rate reduction for borrowers who make their first 48 monthly payments on time
0.25% interest rate reduction for borrowers who have their loan payments automatically withdrawn through Citibank’s E-Z Pay Service
Last six payments waived-Specific terms and conditions apply, visit studentloan.com/zero or call 1-800-967-2400
6) Lender
Wachovia Education Finance
1.800.338.2243
(wachovia.com/education)

Loan Servicer
AES

Special Benefits/Incentives
Zero Origination Fee (immediate 3% savings)
Immediate 1.00% rebate at repayment
Additional 1.00% interest rate reduction for borrowers who make their first 12 monthly payments on time.
Additional 1.50% interest rate reduction for borrowers who make their first 24 monthly payments on time.

Try Sallie Mae. Those benefits that the companies claim doesn't apply to 90% of the people anyways. Just make sure they tell you the interest rate. Try to get the one under 10%. You may need a cosigner to get better rates.

*****************************************
Hey Brandon. Major kudos for doing this. I have a question.

Is there a way the government can check EXACTLY how much you have in your check account/savings? Do they check regularly? Do they often check to see if the number matches the one you put on Fafsa? I'm asking because freshmen year I remember I put $0 on my account when in really i had around $200 or so. No major problems. This time I have around 6 gs.

Do they expect you to use the money in your account strictly for school? What I want to know is if they will deduct aid from me because they'll "assume" that I have some of it covered with the money in the account?

Thanks.

No biggie, they don't really check. Just make sure you dont have like $100,000 or something.

[sweetl0ve]

does financial aid cover book costs ?

[brandonbkim]

does financial aid cover book costs ?

Depends on the rules of each college. At some schools, they let you take out more so that you can receive money back to buy books and help with living expenses. Some schools do not allow people to receive any funds back from the loans. I think most schools fall under the first category.

[blackmage]

ok, this is my problem. an organization that i received a scholarship from said they sent the check to my school's financial aid back in july, and apparently, my school financial aid office hasn't received it yet or found it, because its been three months, and my money is nowhere to be found. with this scholarship, i have enough money to pay my tuition for at least the next two years, so its really important to me to figure out what's going on. at first, i thought it was just because so many scholarship checks were coming in from other students and its a big school, but now, i don't know. what should i do?

[brandonbkim]

ok, this is my problem. an organization that i received a scholarship from said they sent the check to my school's financial aid back in july, and apparently, my school financial aid office hasn't received it yet or found it, because its been three months, and my money is nowhere to be found. with this scholarship, i have enough money to pay my tuition for at least the next two years, so its really important to me to figure out what's going on. at first, i thought it was just because so many scholarship checks were coming in from other students and its a big school, but now, i don't know. what should i do?

Sad to say this, but most financial aid offices are very disorganized. There's a good chance that your organization sent the check and the FA office lost it. I would say try to get a duplicate check and "stop payment" on the check that was sent out. See if they can mail it to you directly.

[luvelyasian]

Try Sallie Mae. Those benefits that the companies claim doesn't apply to 90% of the people anyways. Just make sure they tell you the interest rate. Try to get the one under 10%. You may need a cosigner to get better rates.

thanks.. i actually did choose and apply for that one before i could read your reply cuz i couldn't find the thread ><

good to know i made the right choice thanks once again