Student Loans

[Lifesaver]

I am in the process of going through my financial aid/loan stuff, and apparently, I misunderstood the concept of Grad Plus loans. I didn't realize it was amount determined for you, versus an amount you determine for yourself. Shame on me for not paying attention. It doesn't seem like I've been offered enough to cover my bills. My estimate is I'm going to be around $5,000 short per semester. The school I chose isn't even close to the most expensive school on my list of options, so I don't even understand how I'm still having issues with affordability. I'm going to try to petition with the financial aid office, but I don't know how successful I will be. Does anyone have any suggestions? I'd really prefer not having to take a private loan.

[briefinterviews]

You should be able to file a budget appeal with your school to receive additional grad plus loans. Talk with your school's financial aid office.

[Lifesaver]

I just spoke to them again and they said there's no way to appeal or increase.

[kstubbs11]

I'm not sure why they shorted you that much. You are legally entitled to the full amount the school charges for education, room ,books etc. You can't take out any more than that but you can take up to that amount.

[ontheswpath]

You should ask your financial aid office for the student budget (total cost of attendance: tuition, fees, books, living expenses-room & board), although I think it should be noted on your financial aid offer, and see why there is that much of a gap... unless maybe you anticipate your living expenses will be more than what is indicated in the student budget...

[Lifesaver]

Im up to cost of attendance but their numbers aren't entirely realistic. $1400 for room/board, fine, but I have a car to pay for, need to buy groceries, etc. I was able to switch my apartment to a smaller floor plan, which will help some, but jeez. It's not an easy adjustment when you've been working full time for 4 years.

[ontheswpath]

Im up to cost of attendance but their numbers aren't entirely realistic. $1400 for room/board, fine, but I have a car to pay for, need to buy groceries, etc. I was able to switch my apartment to a smaller floor plan, which will help some, but jeez. It's not an easy adjustment when you've been working full time for 4 years.

I hear you! I've been working full time for 8 years! This will be quite a transition for me too.