Financial Aid HELP PLEASE!?

Question

I went to school for nursing, and I dropped b/c it was a little too expensive. I did get the pell grant, and a student loan from the state, but those only helped with tuition and books. turns out, i dropped a little too soon, and i owe the school money. i cant go back to school until i pay them off, but its taking me forever to find a job. WHAT SHOULD I DO?

Answer 1

According to federal regulations, students are considered to have "earned" all of their federal aid after completing 60% of the seemster. So, if you dropped out before the 60% point, your financial aid would have been pro-rated on a daily basis and your school would have taken back any money that you hadn't "earned" -- this is often how students end up owing the school when they withdraw too soon.

Obviously, you first need to tackle the outstanding balance you have with your school; then you need to seek out funding other than the federal and state aid you received.

The ideal solution would be to arrange a payment plan c/o your school's Billing (or "Bursar," "Business," or "Student Financial Services") Office. If your school offers no such option, or if you have no income/savings to contribute towards a payment plan, then the easiest way to deal with your tuition balance will be to borrow a private educational loan that specifically can be used for "past-due balances." (This phrase is key, as many other loans can only be used during a specific time frame while you're a student.) Some loans that can be used for past-due balances include:

Campus Door: http://www.campusdoor.com
Campus One Private Student Loan Program: http://www.campusone.com/undergraduate.htm
*Citibank CitiAssist: http://studentloan.citibank.com/slcsite/fr_ccund.asp
**College Board: http://www.collegeboard.com/student/pay/loan-center/25525.html
Loan to Learn: http://www.loantolearn.com/products/undergraduate_loan.asp
**TERI: http://www.bankofamerica.com/studentbanking/index.cfm?template=stb_teri_private_loans
Wachovia Education Loan for Students: http://www.wachovia.com/personal/page/0,,325_496_8294_8324,00.html

I put a few stars next to the ones I would recommend that you look into first.

A few notes: When you apply for the loan, make sure you follow all the directions for students looking to finance a past-due balance -- some lenders will require a copy of your bill; others might require you to complete an application for (so, even if your loan will be disbursed in 2006 or 2007, you might need to apply for funding for the year that you owed the school money).

Answer 2

Dropped too soon or too late? Either way you'd end up owing somebody money. You'd need to pay back the loan and pell grant if you'd gone to class already. You need to get with the school and set up a payment plan. You should have known it was going to be too expensive before you committed to registration. This can ruin your credit and prevent you from getting financial aid at this and other institutions.

Answer 3

That was a big mistake I would try to go back and give some sort of medical reason as to why you dropped out. If they believe you they can grant a Medical Withdrawal which may get you out of having to pay and instead the federal will pay. If I were you I would of never dropped out. If you absolutley couldn't go I would just stop comming to classes for the rest of the semester and you would fail. However Financial aid would pay.

Answer 4

Well, I'm not gonna lie to you college ( of any kind) is expensive. But there is hope! It's a lttle thing called FAFSA. Yeah I know it sounds funny, but what the cool thing about this system is that it's gov founded AND can approve you up to your whole year every year you go at your school. I also have seen advertised a group that helps those going into nursing ext... you might want to google it OR get some info at you local library, they would most likely know about the organization, or at least help you find information on them. Best of luck to ya!

Answer 5

I think that you should make an appointment with a financial aid counselor at your school( the one you dropped out of). Also there are tons of scholarships offered on the web. Some of them are not very much but it's a start. You sound like you're in a tough situation. I put a website below that is helpful, try it.

Answer 6

effective. in the experience that they have done the artwork, put in the attempt, are academically qualified and are electorate of the state then they ought to get the education they have earned. Their mum and dad pay the revenues and resources taxes that pay for the ed platforms. those young ones you're asking about were presented right here as children and little ones and, for all intents and applications, are "from right here". Why no longer label someone presented to California from Minnesota even as they were an toddler a non-resident, too? As a member of a lengthy-time CA family contributors, i does no longer concepts seeing each and each and every of the out-of-staters dealt with like the overseas colonists they're. We had a effective state until eventually it filled up with Mid-Westerners and Southerners. what isn't any longer honest is letting an all-American slacker who spends more advantageous time annoying what's due him that he hasn't earned than interpreting get the monetary help that could want to nicely accept in accordance to tutorial advantage.

Answer 7

ok, if you owe the school money, odds are it's too late for a stafford loan so the fafsa won't help you. the only courses of action are that you agree to a payment plan with the school or try to get an alternative loan which will look at your income and credit history to determine if you qualify.

Answer 8

My sister graduated from a nursing school and could not pay for the loan after college. She deferred the payment. It allowed her an extra 6 months to find a job. If you defer the payment then, it want affect your credit. I would explain my situation to the lender and they might have other options. You should keep looking for job to pay this loan.

Good Luck!!!!

Answer 9

Try out ALL of these answers. But if these doesnt work try getting a private loan from a bank. They sometimes have special offers and LOWER rates.

Answer 10

The only thing you can do is talk to your lender, tell them your situation, and make payment arrangements. Unfortunately, many people think that financial aid money is free money, but no one really reads the small print,... it has rules and conditions to be met!

GOOD LUCK!