When do we sign our promissory notes for GradPLUS / Stafford

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
Aggiegrad2011
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When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Tue Feb 22, 2011 7:56 pm

Hey all - Title says it all. I want to make sure my timing is right when it comes to getting my FinAid squared away. I submitted FAFSA a long time ago and my school (UW) does not require a Need Access. Am I supposed to be receiving something in the mail from the school, or what?

Pardon my ignorance, but I received a full scholly for UG and never had to mess with direct loans and as such, I'm a DL virgin and totally feel stupid about this entire process.

Halp. D:

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Eugenie Danglars
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Eugenie Danglars » Wed Feb 23, 2011 9:07 am

Schools' admitted pages that I'm looking at say that you should begin the loan application process in May or June. So, sit tight.

Aggiegrad2011
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Wed Feb 23, 2011 2:12 pm

Eugenie Danglars wrote:Schools' admitted pages that I'm looking at say that you should begin the loan application process in May or June. So, sit tight.


Alright, so it'll be a while, thanks! :D

What do people normally do for cash money during that dwell between ending UG and beginning LS? Work is the natural answer, of course, but ITE it's pretty frakking hard to get even the most basic Office Depot or McDonald's job (especially if they smell it on you that you're not going to be there for a long time). I am doing my best to scrimp 'n' save right now so I won't have to deal with too much issue later but still, seems like a humongous time lapse with no income (Since my scholly has been taking care of my living expenses, in tandem w/ the GI Bill).

Nerve-wracking. Getting into LS is the easy part =/

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fatduck
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby fatduck » Wed Feb 23, 2011 2:12 pm

Credit cards. It's the American way.

Aggiegrad2011
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Wed Feb 23, 2011 2:23 pm

fatduck wrote:Credit cards. It's the American way.


I knew someone was gonna say that. My husband said that, too. So did my parents, and parents-in-law.

Ugh. I frakking hate credit. I've never held a balance past the grace period-ever. And it's chafes my hide that now I have to. =/

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Eugenie Danglars
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Eugenie Danglars » Thu Feb 24, 2011 8:30 am

Aggiegrad2011 wrote:
fatduck wrote:Credit cards. It's the American way.


I knew someone was gonna say that. My husband said that, too. So did my parents, and parents-in-law.

Ugh. I frakking hate credit. I've never held a balance past the grace period-ever. And it's chafes my hide that now I have to. =/


I've never had a balance either, but it's a drop in the bucket against what's about to go down, I suppose.

Have you tried getting a job now? It's easier if you're still in school, and I bet you could find some sort of tutoring gig.

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FuManChusco
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby FuManChusco » Thu Feb 24, 2011 2:29 pm

Aggiegrad2011 wrote:
fatduck wrote:Credit cards. It's the American way.


I knew someone was gonna say that. My husband said that, too. So did my parents, and parents-in-law.

Ugh. I frakking hate credit. I've never held a balance past the grace period-ever. And it's chafes my hide that now I have to. =/


I'm in the same unenviable position. I actually have a decent finance job, but a co-worker told my boss I would be attending LS in the fall and they are pissed. I explained my situation when they were hiring me, but they clearly thought I would enjoy the job and want to stay on long term. Now I have rent and bills, and no idea how to pay them if I get fired. I've been looking for a new job for a few weeks and can't find anything. Getting nervous.

Aggiegrad2011
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Thu Feb 24, 2011 3:16 pm

I've never had a balance either, but it's a drop in the bucket against what's about to go down, I suppose.


LOL, true... It will be a drop in the bucket. That's actually kind of scary to think about like that. But I mean, there's debt, and then there's credit card debt...

Have you tried getting a job now? It's easier if you're still in school, and I bet you could find some sort of tutoring gig.


I do tutor in the English Writing skills center a few hours a week, but I basically spend 98% of my day working on my honors thesis or in one of my graduate seminar papers. I made the dumb error of taking all graduate-level "Capstone" seminar courses and of course, I have to maintain my >4.00 LSAC GPA right? Since the day I started UG I wanted to walk across the stage as highest honors and in the top 5 of my class. I got cheated out of Salutatorian & Valedictorian so it's my way of evening up the score. LOL =/ Just not a lot of spare time. But the issue isn't really a few bucks here and there... I'm more concerned with the 3+ month span when I wouldn't even be able to work as a tutor after I graduate in June. We're planning to ditch this lease in July (already talked to apt. mgr, he's willing to work with us) so we can move to Seattle and get into our MUCH(!!) cheaper place. That said, it's going to be July, August and maybe some of September until our Fin Aid kicks in (right?) and we'll tap our savings pretty heavily during that time and we're lucky to have it, but still, the system is so... wonky. LOL =/

Aggiegrad2011
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Thu Feb 24, 2011 3:19 pm

FuManChusco wrote:
Aggiegrad2011 wrote:
fatduck wrote:Credit cards. It's the American way.


I knew someone was gonna say that. My husband said that, too. So did my parents, and parents-in-law.

Ugh. I frakking hate credit. I've never held a balance past the grace period-ever. And it's chafes my hide that now I have to. =/


I'm in the same unenviable position. I actually have a decent finance job, but a co-worker told my boss I would be attending LS in the fall and they are pissed. I explained my situation when they were hiring me, but they clearly thought I would enjoy the job and want to stay on long term. Now I have rent and bills, and no idea how to pay them if I get fired. I've been looking for a new job for a few weeks and can't find anything. Getting nervous.


Yeah, that is pretty shit-tastic. I mean, can't you tell your boss that your co-worker is just retarded and you're not attending LS in the fall? I mean, it's his word vs. yours isn't it? Plausible deniability can't be enacted here? I suppose if you already 'fessed up to it (I think you did...) then you're probably out of luck there, but really, their ASSUMPTION that you'd like the job so much you'd want to stay there forever and forego your plans for law school shouldn't be your problem... sad that they're making it your problem.

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FuManChusco
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby FuManChusco » Thu Feb 24, 2011 4:26 pm

Yeah, well they knew I was applying this year as I told them so its hard to deny an acceptance. After they asked me about the acceptance I basically told them I still wasn't sure because of the market and debt. They seem ready to move on though, as it's an entry level job and they want to groom a young graduate for the future. Basically the chance of me leaving is enough for them. I think their mindset is to start training someone now rather than in September in case I do go. It's a shitty situation considering I lucked into this job. I have a shit gpa and a liberal arts degree. Its rough. I started another thread since I might try to take out my law school loans a little earlier and grab enough money to survive. I'm not sure that's doable with student loans though.

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fatduck
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby fatduck » Thu Feb 24, 2011 4:38 pm

You could always just sign up for a new credit card with a good introductory offer (say 6-12 months of 0% APR) and put the bulk of your purchases on that over the summer.

Aggiegrad2011
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Thu Feb 24, 2011 5:25 pm

fatduck wrote:You could always just sign up for a new credit card with a good introductory offer (say 6-12 months of 0% APR) and put the bulk of your purchases on that over the summer.


The mere thought of that makes me queasy D:

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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Thu Feb 24, 2011 5:26 pm

FuManChusco wrote:Yeah, well they knew I was applying this year as I told them so its hard to deny an acceptance. After they asked me about the acceptance I basically told them I still wasn't sure because of the market and debt. They seem ready to move on though, as it's an entry level job and they want to groom a young graduate for the future. Basically the chance of me leaving is enough for them. I think their mindset is to start training someone now rather than in September in case I do go. It's a shitty situation considering I lucked into this job. I have a shit gpa and a liberal arts degree. Its rough. I started another thread since I might try to take out my law school loans a little earlier and grab enough money to survive. I'm not sure that's doable with student loans though.


I don't think you can do that with loans, no... If so, I would definitely try to do that.

Pretty tough spot your co-worker put you in... That's a pretty douchebag move, hopefully it wasn't on purpose. If it was, you should totally not let the air out of their tires!!

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FuManChusco
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby FuManChusco » Thu Feb 24, 2011 6:23 pm

Aggiegrad2011 wrote:
FuManChusco wrote:Yeah, well they knew I was applying this year as I told them so its hard to deny an acceptance. After they asked me about the acceptance I basically told them I still wasn't sure because of the market and debt. They seem ready to move on though, as it's an entry level job and they want to groom a young graduate for the future. Basically the chance of me leaving is enough for them. I think their mindset is to start training someone now rather than in September in case I do go. It's a shitty situation considering I lucked into this job. I have a shit gpa and a liberal arts degree. Its rough. I started another thread since I might try to take out my law school loans a little earlier and grab enough money to survive. I'm not sure that's doable with student loans though.


I don't think you can do that with loans, no... If so, I would definitely try to do that.

Pretty tough spot your co-worker put you in... That's a pretty douchebag move, hopefully it wasn't on purpose. If it was, you should totally not let the air out of their tires!!


Yeah, probably only possible with private loans. Eh, he definitely didn't mean to. The topic of grad school came up and he just kind of mentioned it. I wasn't really trying to hide it anyway. I'll probably find some work, but I need something to fall back on.

seriously????
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby seriously???? » Thu Feb 24, 2011 6:59 pm

threaten to sue!

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FuManChusco
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby FuManChusco » Sun Feb 27, 2011 12:19 pm

fatduck wrote:You could always just sign up for a new credit card with a good introductory offer (say 6-12 months of 0% APR) and put the bulk of your purchases on that over the summer.


Another question: if you did this, could you just estimate your COL to be a little higher, so you could pay them off immediately? I really know nothing about loans. I should start reading about this.

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fatduck
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby fatduck » Sun Feb 27, 2011 2:37 pm

FuManChusco wrote:
fatduck wrote:You could always just sign up for a new credit card with a good introductory offer (say 6-12 months of 0% APR) and put the bulk of your purchases on that over the summer.


Another question: if you did this, could you just estimate your COL to be a little higher, so you could pay them off immediately? I really know nothing about loans. I should start reading about this.

Yes. You'll get an "aid package" that will include an assortment of Stafford Subsidized, Stafford Unsubsidized, and GradPlus loans, depending on your FAFSA. Your school's financial aid office should have a form or something where you can petition for an increased COA and get more GradPlus loans. As long as you aren't asking for an extra $100k to go blow in Vegas I'm sure they'd allow it.

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dr123
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby dr123 » Sun Feb 27, 2011 2:46 pm

Get a job as a nanny

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FuManChusco
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby FuManChusco » Sun Feb 27, 2011 11:10 pm

fatduck wrote:
FuManChusco wrote:
fatduck wrote:You could always just sign up for a new credit card with a good introductory offer (say 6-12 months of 0% APR) and put the bulk of your purchases on that over the summer.


Another question: if you did this, could you just estimate your COL to be a little higher, so you could pay them off immediately? I really know nothing about loans. I should start reading about this.

Yes. You'll get an "aid package" that will include an assortment of Stafford Subsidized, Stafford Unsubsidized, and GradPlus loans, depending on your FAFSA. Your school's financial aid office should have a form or something where you can petition for an increased COA and get more GradPlus loans. As long as you aren't asking for an extra $100k to go blow in Vegas I'm sure they'd allow it.


Alright, that makes sense. I actually think I just found some other work. This is good to know though.

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Iceman389
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Iceman389 » Tue Mar 01, 2011 6:06 pm

On the credit card note...it can't actually be possible to get a credit card these days without reportable income is it ITE?

Aggiegrad2011
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Re: When do we sign our promissory notes for GradPLUS / Stafford

Postby Aggiegrad2011 » Tue Mar 01, 2011 7:45 pm

Iceman389 wrote:On the credit card note...it can't actually be possible to get a credit card these days without reportable income is it ITE?


With the way credit card companies are, even ITE? I wouldn't doubt it.

My cousin Tabitha has a credit score in the fucking toilet, no, scratch that, in the septic system (~500) and she keeps getting those "courtesy checks" from C1 and "pre-approved" offers, from Chase, Citi, Frontier and a number of others and has taken several of them up on it.

Capitalists never learn their lesson.




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