A friend recently told me of a person he knows that receives $26,000 per semester from the federal government in student loans. I am thinking about going to school full time, but need extra income. Would financial aid be able to sufficiently cover my living expenses and school as well? I have an apartment and all of the costs associated with that.
2007-03-15 10:02:46 · 2 answers · asked by Ian 1 in Education & Reference ➔ Financial Aid
Each situation is different in terms of how financial aid responds. It is based on family income and savings if a college student is under 24. In addition, a large amount in student loans can create a problem once a student graduates from college in paying them back six months after graduation. However, I will mention some free sources to locate money for college.
First, fill out the FAFSA form because it taps into need based financial aid from the state and federal governments along with the college itself. Also, you can sign up for the work study program on campus which can bring in an income while attending college. The form becomes available January 1 for the fall semester/quarter.
Second, the college's financial aid office and website has a list of private scholarships offered from outside organizations and companies. Sometimes a college major's website will list scholarships, too.
Third, the public library has a book listing scholarships with some not even listed on the web.
Finally, I recommend joining several free membership scholarship search websites. There are scholarships for a variety of things including ethnicity, clubs, hobbies, and even wearing duct tape to the high school prom. Most are updated on a regular basis. Most offer a customized search based on information entered onto a form on the website.
Good luck!
2007-03-19 08:13:36 · answer #1 · answered by dawncs 7 · 0⤊ 0⤋
do not get yourself into loans!
be careful. you will not want to graduate with 200,000$ in student loans that you will have to repay and wont be able to. you friend is falling a trap. besides it sounds too good to be true.
no you cannot live on financial aid. if does help alot if you are a low income student but it is no where near enough to support yourself.
i suggest you live with your parents until you can afford your own place or get a part time job to accompany your studies.
good luck!
1 800 4 FED AID
Call FAFSA and ask
www.fafsa.ed.gov
2007-03-16 05:17:40 · answer #2 · answered by lamericana 3 · 0⤊ 0⤋