I just submitted my FAFSA earlier tonight.
After I submitted it, it told me: Your application will be processed within 3 to 4 days.
Does that mean I can get a stafford loan after 3-4 days? How long would it take before I can apply for a stafford loan?
Thanks
2006-08-05 15:10:40 · 7 answers · asked by Dave 2 in Education & Reference ➔ Financial Aid
Also it says my EFC (expected family contribution) is 26236. When I know they won't help me at all. The only thing they helped me with is filling out my FAFSA.
2006-08-05 15:14:26 · update #1
theaterhanz. I can't even get a loan?
2006-08-05 15:25:09 · update #2
Hey my parents done help me finacially at all with college. and according to the government it doesnt matter one way or the other. untill youre 23 you are bound to your parents and how much your parents make. I dont even live in the same state as my parents but i still have to give all their information ( and they make a lot of money ) so i wasnt able to get any free grants or anything like that. and with filling out the fafsa and sumbitting it then its up to your college to do the rest. you will have to sign a promissary note. and do a lot of things through your college. your college will be sending you the information about how much you can get in loans and all that. i think the amount you can get from your individual loan is 2,650 and then you get parent loans, meaning your parents will have to take the loans out for you. fortunatly my dad took the loans out for me (ill have to pay them back though) and thats all he did to help. and i ended up getting like 12,000 a year throught the parent loans. but once you submit your fafsa its all up to your college after that. contact them. to get the loan you have to be enrolled in at least 6 credits are your college aswell. and they send out the checks on predetermined dates. so you couldnt get the loan until probably fall term or semester
2006-08-05 22:31:23 · answer #1 · answered by basketcase8080 2 · 0⤊ 1⤋
I hate to break the news, but if you just applied today, you have missed the deadline for any finacial aid for the upcoming term, you won't be getting anything till spring at the eariest.
I should take between 2 weeks for the entire process if you file in time.
2006-08-05 22:15:29 · answer #2 · answered by theaterhanz 5 · 0⤊ 1⤋
If you get a loan it will go to the school to pay off a remaining balance first before money is given directly to you. So unless you can pay the 26,000 first no there will be no loan.
2006-08-06 12:55:33 · answer #3 · answered by *bossy* 4 · 0⤊ 0⤋
If your EFC is that high, you won't be getting financial aid. Also, yeah, it's way too late to get any asisstance for the fall semester. As for loans, you should be eligible, they're not giving you money, you have to pay it back with interest, so I don't see them having a problem with giving you one. Whether they will give you one for the fall, I don't know...give your school's financial aid office a call, they will be able to help you.
2006-08-06 03:32:08 · answer #4 · answered by diyta 4 · 0⤊ 1⤋
It will be processed, but odds are your school of choice will NOT have any funds (federal or private) left for this school year.
2006-08-07 00:18:06 · answer #5 · answered by ronnieneilan1983 3 · 0⤊ 0⤋
around 2 months.
2006-08-06 11:09:45 · answer #6 · answered by nolyad69 6 · 0⤊ 1⤋
2 weeks i think...
2006-08-05 22:14:16 · answer #7 · answered by underagelying 3 · 0⤊ 0⤋