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Student Loan Question???

I have been approved for the maximum amount of the Pell Grant, and before books my classes only cost $1100. So I figure after books I'll only use $1700, so $1700 for each semester I would use a total of $3400, I should recieve a little after everything is paid.
My question is this. I need a little support to make it through bills, I'm not talking a lot of money, maybe like $5000 or $7500 (that would get me through the entire school year).

Can I get approved for a student loan to help with outside expenses?
If I can, what company should I look at?

I have looked at Sallie Mae, but when I saw that it depends on how much your approved for on the grant, plus what you are going for, I figured that they may not accept me since I got the full amount available. P.S. I'm going for A.A. right now general business, probably changing my concentration to accounting.

Answer Question
 
southernstyle88

Asked by southernstyle88 at 8:23 PM on Jul. 30, 2010 in Money & Work

Level 7 (192 Credits)
Answers (14)
  • yes you can get approved for loans for outside expenses. go to your financial aid office at your school and they will have all the forms for all of the different companys.
    and did you do your FASFA? are you not getting any financial aid for some reason?
    PURPULbutterfly

    Answer by PURPULbutterfly at 8:25 PM on Jul. 30, 2010

  • I would try and get a loan from Sallie Mae. If you go with a private loan, then more than likely you will have to pay a much higher interest rate. BUT, if I had it to do all over again, I would not get any loans at all.

    JeremysMom

    Answer by JeremysMom at 8:27 PM on Jul. 30, 2010

  • yes the pell grant is the fafsa. I tried talking to the financial aid rep. but she was SO rude!!
    All she said was that the companies would be contacting me. Noone has contacted me and I went through all of that a month ago.
    southernstyle88

    Comment by southernstyle88 (original poster) at 8:27 PM on Jul. 30, 2010

  • you should go to the actual financial aid office. they never pay as much attention to you on the phone as they do when you go in the office.
    PURPULbutterfly

    Answer by PURPULbutterfly at 8:30 PM on Jul. 30, 2010

  • I was at her office, she was just that rude!
    southernstyle88

    Comment by southernstyle88 (original poster) at 8:31 PM on Jul. 30, 2010

  • I think you may be able to get a subsidized loan, but I'm not sure how that works with a Pell Grant. I had an unsubsidized loan, and I think the process would be similar. I filled out the FAFSA and then was awarded the loan. I accepted the loan through my school and chose a lender.
    andrea96

    Answer by andrea96 at 8:45 PM on Jul. 30, 2010

  • I went to several different colleges (transferred from a CC to a 4 year - then transferred to another 4 year cuz the first sucked) The people at the desk/counter of all of them were IDIOTS. None of them could answer my questions and would lie and tell me things about my financial aid that weren't true. Seriously, I think they hire the biggest morons in the world for those positions.

    Ask to talk to someone in charge - the bursar or head of the financial aid or whatever (preferably a man!). The men know their crap and can usually answer your questions.
    LostTheSlipper

    Answer by LostTheSlipper at 8:46 PM on Jul. 30, 2010

  • Just to let you know Sallie Mae is now selling their loans to the Department of Education. And still managing the loans. I spent my vacation money on paying off my Sallie Mae loan because I did not know what else they would do!
    Plus I was even paid ahead of time until August 2011 when they sold my loan.
    tryin2BGOOD

    Answer by tryin2BGOOD at 8:56 PM on Jul. 30, 2010

  • You can look for scholarships here: http://www.fastweb.com/

    rkoloms

    Answer by rkoloms at 8:58 PM on Jul. 30, 2010

  • Yes, you can. If you filled out your FAFSA, the student loans you are eligible for should be part of your total financial aid award. I would be very careful with student loans, they build up fast and take forever to pay off. If you don't need them, don't take them. Also, you can only have so much in student loan debt. If you are going on for a Masters, I would hold off on loans until then because there are no grants for Masters and above.
    tyfry7496

    Answer by tyfry7496 at 11:10 PM on Jul. 30, 2010

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