COL Financing for First Years. Forum
- fangonk
- Posts: 34
- Joined: Mon Feb 15, 2010 7:57 am
COL Financing for First Years.
I am broke. My parents literally have no indoor plumbing. Im going to a t14 school and I don't feel like I can keep up a part-time job that pays for COL, at least for the first year. I know this is a really basic question but I couldn't find another topic that addressed it. Is there financing/loans that will pay for COL expenses? How do other poor people pay for this stuff if they can't work? How does this work?
- Chromakey
- Posts: 89
- Joined: Sun Nov 30, 2008 10:29 pm
Re: COL Financing for First Years.
The school will factor a COL allowance into your total financial aid package. Check the school's website under their tuition and fees to get an idea of how much you will be able to borrow.
- fangonk
- Posts: 34
- Joined: Mon Feb 15, 2010 7:57 am
Re: COL Financing for First Years.
So I can get low interest loans to pay for COL stuff?Chromakey wrote:The school will factor a COL allowance into your total financial aid package. Check the school's website under their tuition and fees to get an idea of how much you will be able to borrow.
- Chromakey
- Posts: 89
- Joined: Sun Nov 30, 2008 10:29 pm
Re: COL Financing for First Years.
You can borrow up to the cost of attendance (which as noted before, will be determined by the school's financial aid office and will include a COL allowance) through the Grad PLUS program. These loans have a fixed 8.5% interest rate. You may qualify for other forms of aid, but most students who are not receiving significant scholarship money will need PLUS loans. If you are looking for more detailed information on loan types and interest rates, I suggest you check out http://www.finaid.org/loans.fangonk wrote:So I can get low interest loans to pay for COL stuff?Chromakey wrote:The school will factor a COL allowance into your total financial aid package. Check the school's website under their tuition and fees to get an idea of how much you will be able to borrow.
- fangonk
- Posts: 34
- Joined: Mon Feb 15, 2010 7:57 am
Re: COL Financing for First Years.
Chromakey wrote:You can borrow up to the cost of attendance (which as noted before, will be determined by the school's financial aid office and will include a COL allowance) through the Grad PLUS program. These loans have a fixed 8.5% interest rate. You may qualify for other forms of aid, but most students who are not receiving significant scholarship money will need PLUS loans. If you are looking for more detailed information on loan types and interest rates, I suggest you check out http://www.finaid.org/loans.fangonk wrote:So I can get low interest loans to pay for COL stuff?Chromakey wrote:The school will factor a COL allowance into your total financial aid package. Check the school's website under their tuition and fees to get an idea of how much you will be able to borrow.
Oh great, this is just the kind of info I was looking for. Thanks!
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