can you increase the amount you borrow?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
941law
Posts: 425
Joined: Wed Aug 24, 2011 9:21 am

can you increase the amount you borrow?

Postby 941law » Sun Jun 03, 2012 10:32 pm

I was told that you can't borrow past what your school has calculated as total "cost of attendance" (coa), but what if it falls short? can you increase the amount if you notify grad-plus?

User avatar
rinkrat19
Posts: 13918
Joined: Sat Sep 25, 2010 5:35 am

Re: can you increase the amount you borrow?

Postby rinkrat19 » Sun Jun 03, 2012 10:35 pm

I've heard of people MAYBE being able to get a little more money if they have legitimate expenses (like childcare) above the estimated cost of attendance. They go through their school's FinAid office. But no, you can't just get more money for the asking because you want to buy a car or you just can't follow a budget. It's not an unlimited ATM.

User avatar
pinkcamellia
Posts: 959
Joined: Sun Dec 12, 2010 5:59 pm

Re: can you increase the amount you borrow?

Postby pinkcamellia » Sun Jun 03, 2012 10:36 pm

941law wrote:I was told that you can't borrow past what your school has calculated as total "cost of attendance" (coa), but what if it falls short? can you increase the amount if you notify grad-plus?


The COA is usually way more than what you need. They have a lot of stuff built-in that you may not use. For example, I did not need new laptop, which they had budgeted around $1600 for. I wouldn't worry about it.

User avatar
941law
Posts: 425
Joined: Wed Aug 24, 2011 9:21 am

Re: can you increase the amount you borrow?

Postby 941law » Sun Jun 03, 2012 10:39 pm

rinkrat19 wrote:I've heard of people MAYBE being able to get a little more money if they have legitimate expenses (like childcare) above the estimated cost of attendance. They go through their school's FinAid office. But no, you can't just get more money for the asking because you want to buy a car or you just can't follow a budget. It's not an unlimited ATM.


My drinking habit does not like this post.

User avatar
bostonlawchick
Posts: 439
Joined: Tue Nov 17, 2009 10:09 am

Re: can you increase the amount you borrow?

Postby bostonlawchick » Sun Jun 03, 2012 10:40 pm

Yeah, you can only do it through your school's fin aid office- you cannot go directly through Grad Plus. They will generally not do this for something trivial, and will really want you to justify why you aren't able to stick to the budget they lay out in their cost of living breakdown. Childcare is one thing they'll usually do it for. Our financial aid office told me they could probably do it for me if I couldn't get my private UG loans deferred.

rad lulz
Posts: 9844
Joined: Sun Feb 19, 2012 10:53 pm

Re: can you increase the amount you borrow?

Postby rad lulz » Sun Jun 03, 2012 10:48 pm

941law wrote:
rinkrat19 wrote:I've heard of people MAYBE being able to get a little more money if they have legitimate expenses (like childcare) above the estimated cost of attendance. They go through their school's FinAid office. But no, you can't just get more money for the asking because you want to buy a car or you just can't follow a budget. It's not an unlimited ATM.


My drinking habit does not like this post.

Mouthwash is cheap bro

User avatar
pinkcamellia
Posts: 959
Joined: Sun Dec 12, 2010 5:59 pm

Re: can you increase the amount you borrow?

Postby pinkcamellia » Sun Jun 03, 2012 10:49 pm

rad lulz wrote:
941law wrote:
rinkrat19 wrote:I've heard of people MAYBE being able to get a little more money if they have legitimate expenses (like childcare) above the estimated cost of attendance. They go through their school's FinAid office. But no, you can't just get more money for the asking because you want to buy a car or you just can't follow a budget. It's not an unlimited ATM.


My drinking habit does not like this post.

Mouthwash Hand sanitizer is cheap bro


FTFY




Return to “Financial Aid”

Who is online

Users browsing this forum: No registered users and 1 guest