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Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
seanbodonovan

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Postby seanbodonovan » Thu Jan 11, 2018 11:35 am

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Last edited by seanbodonovan on Tue Jan 16, 2018 1:21 pm, edited 1 time in total.

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A. Nony Mouse

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Re: Borrowing for costs beyond "cost of attendance"

Postby A. Nony Mouse » Thu Jan 11, 2018 11:39 am

You can talk to your financial aid office about getting the cost of attendance adjusted based on your circumstances. I know people with kids who were able to get that amount increased based on having to support the kids.

Now to be fair, everyone I knew who did this was a single parent, so I don’t know how your spouse’s income factors in. And I don’t know what they do about a mortgage - you can’t get an increase for car payments, I know, but obviously you don’t need a car to live, so a house may be different.

seanbodonovan

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Re: Borrowing for costs beyond "cost of attendance"

Postby seanbodonovan » Thu Jan 11, 2018 11:52 am

A. Nony Mouse wrote:You can talk to your financial aid office about getting the cost of attendance adjusted based on your circumstances. I know people with kids who were able to get that amount increased based on having to support the kids.

Now to be fair, everyone I knew who did this was a single parent, so I don’t know how your spouse’s income factors in. And I don’t know what they do about a mortgage - you can’t get an increase for car payments, I know, but obviously you don’t need a car to live, so a house may be different.



I contacted the school, and it seems that the only expense that they take into consideration involving kids is childcare expenses. My wife stays home with the kids, so this isn't an expense that we have. I think maybe the obvious solution is for my wife to just work more, but we prefer to have her at home while our kids are young, especially with me still basically having the hours of a full-time job as a 1L.

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A. Nony Mouse

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Re: Borrowing for costs beyond "cost of attendance"

Postby A. Nony Mouse » Thu Jan 11, 2018 11:57 am

Ah, I see. I guess the school figures it doesn’t have to pay to support that particular choice.

I’m afraid someone else will have to weigh in on loan options.



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