August 17, 2010
Financial Aid Loans | Financial Aid – Keep Up Your Grades To Keep Up Your Aid
You received the financial aid, you have entered a college and what now? Well, it would be too easy if all your worries would just vanish once you step inside the college, but unfortunately, this may not be the case. Financial aid is not an ever lasting commodity, it is as long in your pocket as long as you are truly deserving of it.
There are always documents you would need to submit throughout your college years if you are receiving aid. You would also have to face deadlines which are crucial to meet. This may sound intimidating but this is how the system works. If your aid is based on need, then you might be required to present your families financial standing at different intervals. If you financial situation is greatly improved during your college years the you might be offered less aid than what you initially received. Although the new college exposure sometimes makes you less responsible, but make sure this is not the case and you provide all the documents for aid on time which are asked from you.
As mentioned earlier, financial aid is subjected to change at any time and this time your aid is also dependent upon your academic progress. If you have not been keeping up with your grades and have been giving anything less than your best performance, then chances are that the following semester you might have to pay for college from your own pocket. Sometimes the students that are on financial aid lose their concentration from studies very easily because they are either over confident or have a view that they have nothing to lose- and as a result end up losing financial aid status. However, it might be the opposite too. If a student is from a poor family then he would try his level best to give an excellent performance so as to keep receiving the financial aid, especially government education grants.
So this is your time to shine, and although you are free to have a social life but try to balance it out with your college life and keep up your GPA so you do not have any regrets later. Because once the financial aid is taken away, you might not get be eligible for it again.
If you’re stuck and need some help finding good information online try using Financial-Aid-Directory.com for finding the latest information on financial aid to help you when you need it most.
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9 Comments on Financial Aid Loans | Financial Aid – Keep Up Your Grades To Keep Up Your Aid »
May 2, 2011
natalie @ 12:05 am:
EDIT 3:
The statistics are BULLSHIT.Unless you attend college and know what the costs are, don't post fake answers.
Edit 2:
200,000 isn't unheard of either.It really depends on what college/university you attend.You're school has a higher cost, so you'll have to pay more.It really sucks that students have to have the burden of so many loans to get through college.If the governmnent were to lower the interest rate, maybe to 2 or 3 % it would be a lot better.I know some people who haven't gone to college because of the fear of have to pay back so much.I have good grades and it is really hard for me to find scholarships.But really, what is a $1,000 gonna really do?
Oh, but if you plan on going to grad school or higher, some jobs will actually pay your tuition.So maybe there will be a bright side.Don't get discouraged!
EDIT:
The second person is WRONG.$22,000 for four years?Yeah right!I go to one of the cheapest schools, as far as tuition goes, and if you don't qualify for grants you have to take loans to pay tuition, books, and living.And anyways the school won't allow you to receive the full $40,000 if it's not needed.I'll probably end up with $40,000 in loans when I finish next year.My friend who goes to a private college is ending up with 80,000 in debt(undergrad only).
PERKINS LOAN-You need to talk to a financial aid officer.I was offered the perkins loan during my summer sessions last year.
What is normal?I'd say average is 40,000-50,000.Which will be a payment of 160/month after you graduate.But having more is not uncommon or unrealistic.You're getting a college education, which is worth every penny.
Hi,
I am in college so maybe I can help you with your question.
I received $18,000 in loans from the government last year(fall semester, spring, and summer sessions.There is a max limit that the government will pay, but i'm not honestly sure what it is per year.It's at least 18000.I received:
1 subsidized loan(government pays interest while i'm in school)
1 unsubsidized loan(i pay interest while in school or just let it accumulate)
1 perkins loan (similar to the unsub)
Whatever you're receiving from the government is maxed out, so you have to go to alternative loans(private loans).the max of loans (government + private school loans) can only add up to $40,000 for an undergraduate (for ONE academic school year)
so the max you can get for 4 years is 160,000 in loans.
You'll have to have good credit or have a co-signer for the private loans.I'd do some searching around for good interest rates because normally the private loan companies want you to make the interest payments while in school…although all don't.Don't just choose the first company you find.
May 16, 2011
This is a God Dam @ 4:19 pm:
Go to the financial aid office on campus.
Ask them how you can apply for a loan & how much you want to borrow.
May 26, 2011
dogatemyfinances @ 3:01 am:
Great post!
Your sister has probably the most important thing, a useful degree! She'll be able to get a high-paying job, no problem. Now, if poor Polly has a masters in social work or trombone or something, she has a real problem.
I took on over 100K in student loans. You have to have a plan, and you have to beat those loans down, that's for sure. I think most of the time student loans are manageable, if you care enough to manage them.
June 9, 2011
Ping.fm @ 9:45 pm:
New state report shows where students in need of financial aid are –
June 28, 2011
EdmontonSun @ 2:05 pm:
Got my financial aid award letter today. About damn time. Now to wait 3 more weeks for summer’s money to come it.
July 2, 2011
culbs @ 4:12 am:
I checked. You're right. I'm currently paying 6.550% on my student loans. That sucks. You are also correct about the second part though. I have bigger issues to conquer before I worry about the student loans. This gives me a more accurate (if less desirable) picture of the situation though. Thanks. Thanks for the the encouragement in your last comment, too. Are you sure restaurants aren't an emergency?
July 5, 2011
Twitter @ 8:35 pm:
Students: did you know you can check your financial aid status online? You can!
July 10, 2011
Best Job Seach Site|IndoJobSearch.com @ 11:22 am:
Can you be denied financial aid for a Class A misdemeanor theft conviction? –
October 13, 2011
Twitter @ 6:40 am:
Have U checked yr Financial Aid Status 4 the upcoming semester? Log in2 Self Service 2day, review the Financial Aid Tab