Borrowing the full amount

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nowinGA
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Borrowing the full amount

Postby nowinGA » Fri Mar 05, 2010 7:55 pm

Pardon me if this is a naive or silly question...

If I decide to pay sticker somewhere, and also need money to cover the cost of living, is it ever a challenge to actually GET that full amount in loans? I realize it is based on the FAFSA...and though mine says I have a small family contribution, I really don't...no savings, and already a couple student loans in repayment from previous grad school.

My previous two trips to grad school were either fully funded, or partially...but I always had plenty of loans available. But, I was never trying to get the FULL amount that would be needed for tuition and COL.

Any general thought on or experience with this?

Thanks, in advance...

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Kiersten1985
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Re: Borrowing the full amount

Postby Kiersten1985 » Fri Mar 05, 2010 7:56 pm

I'm curious to see if anyone says "no" but people do it, so I'm guessing you'll be ok.

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nowinGA
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Re: Borrowing the full amount

Postby nowinGA » Fri Mar 05, 2010 8:02 pm

Kiersten1985 wrote:I'm curious to see if anyone says "no" but people do it, so I'm guessing you'll be ok.


I guess another way to ask the question is what they use the FAFSA "family contribution" number for (which is b.s. for someone like me who is single and 31)...if you need full funding. Would that number ever make it so you are NOT eligible for the full amount of funding.

Anyway...yes, just curious! Hopefully someone good will give me $$ and I wont be in this situation! :?

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presh
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Re: Borrowing the full amount

Postby presh » Fri Mar 05, 2010 8:04 pm

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Last edited by presh on Tue Dec 22, 2015 3:14 am, edited 1 time in total.

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presh
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Re: Borrowing the full amount

Postby presh » Fri Mar 05, 2010 8:06 pm

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Last edited by presh on Tue Dec 22, 2015 3:15 am, edited 1 time in total.

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Kiersten1985
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Re: Borrowing the full amount

Postby Kiersten1985 » Fri Mar 05, 2010 8:08 pm

Yeah, you shouldn't be putting your parent's information in there. "Family contribution" is just referring to your household (as a single 31 year old) not to your parents unless you put their info in there.

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ruleser
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Re: Borrowing the full amount

Postby ruleser » Fri Mar 05, 2010 8:10 pm

Efc not relevant - you can borrow up to full tuition/books/col

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nowinGA
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Re: Borrowing the full amount

Postby nowinGA » Fri Mar 05, 2010 8:19 pm

I don't have my parent stuff on the FAFSA...but it is required for some schools on the needaccess...for whatever reason

Sorry if that was unclear...just trying to point out that I haven't been supported in quite a long time...

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englawyer
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Re: Borrowing the full amount

Postby englawyer » Fri Mar 05, 2010 8:23 pm

financial aid determines how much "good loans" you can get (IE defered interest etc). you can borrow "bad loans" beyond that with higher interest rates and what have you. the amount of bad loans you can get depends on your credit score, but if you have a good score the spigot will flow.

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nowinGA
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Re: Borrowing the full amount

Postby nowinGA » Fri Mar 05, 2010 8:32 pm

englawyer wrote:financial aid determines how much "good loans" you can get (IE defered interest etc). you can borrow "bad loans" beyond that with higher interest rates and what have you. the amount of bad loans you can get depends on your credit score, but if you have a good score the spigot will flow.



AH, thanks...a light just went on...and that makes sense! i have stellar credit, so bring on those craptastic loans! oy... :?




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