How do I get a Gov Student loan? PLS HELP

[DisneyDreamer04]

Since I have this new found job, and I am going thru orientation this week, I have been trying to play around in my head a schedule where I could work and during the daytime go to school.

I have done the fasa(sp) thing, and it just tells me no pell grant. EFC too high. Which is fine, but I need to know how to get a gov. loan. I have no idea about them subsidized or unsubsidized. I would like to loan enough to get school paid for, and also I am looking into a school loan that will help with childcare? (Is that even possible) I have heard of living expense loans while in school. If I cant get help for childcare, then going back to school right now, just isnt in our budget of course.

If it matters, I have had a lifelong passion to become a cosmetologist. I have found the schools that are government accredited, so I know they are eligible for pell grants & loans,and I am looking to start in January if that matters.

 

[vroomagain]

You need to contact the financial aid office of the school you are going to.

Hope this helps!

 

[raraloveseeyore]

I am a financial aid officer in a cosmetology school. I suggest you make an appointment at the school you wish to attend. They will go over all your options including the loans. If you get loans, you do not have to pay them back until six months after you graduate. Always look for an accredited school because they have to answer to the government so they are carefully watched(I know we are). As far as child care, alot of our students get day care vouchers through social services. Call and see what they say. Good luck!

 

[tinkerbell615]

Usually after you have completed the fafsa, the school in which you will be attending will offer you a financial aid package. That is when you are typically offered the government loans which you can accept or decline. At least this is how it always worked with my son while he was in school.

I also agree you should contact the school's financial aid office. They can answer your questions for you.

Good Luck!

 

[uk_wildcat]

I am going through the same thing right now. Currently, I am just waiting for the school to evaluate my FAFSA and the program I want to go into and let me know what I qualify for. I, too, am trying to figure out daycare and what classes I can take, if any. I just hope to hear something soon! It will all be based on your EFC, the school's tuition and all that.

 

[msmayor]

Bear in mind that there are limits for federal loan amounts each year of study. For an undergraduate freshman, the maximum Stafford Loan is $3,500 subsidized and $2,000 unsubsidized. On a subsidized loan, the interest is paid by the government for the period you are in school, and is not charged to you until 6 months after you graduate. On an unsubsidized loan, the interest begins accumulating after disbursement and while you are not required to pay it, if you choose not to pay the interest it is added to the principal of the loan.

Currently, the interest rate on a subsidized loan is 5.6% and unsubsidized is 6.8%.

Also be aware that if your school is a Direct Lender, once offered a loan you will only need to sign the Master Promissory Note and the school handles all the rest. If your school is not a Direct Lender, you will need to find a lender yourself and go through the application process with them.

Its highly unlikely that you will get a student loan to help pay for childcare. The rules for the amount offered are very strict and tied to the cost of attendance at the school. Childcare is not considered in that formula.

 

[4HppyCamprs]

Usually after you have completed the fafsa, the school in which you will be attending will offer you a financial aid package. That is when you are typically offered the government loans which you can accept or decline. At least this is how it always worked with my son while he was in school.

I also agree you should contact the school's financial aid office. They can answer your questions for you.

Good Luck!

Yep this is how it works for me. I fill out FaFsa they immediately deny me and then eventually the school offers me Stafford loans. They choose the max for sub and the max for unsub. I chose to accept or not

Just Adding that the amount of loan is dependent on Dependant (living with parents) or independant (on your own) the max for a freshman is 9500 per year (independent). It has been raised significantly.

 

[DisneyDreamer04]

Thanks guys. I applied about two months ago, when I was wondering about my efc, and I never heard anything from any school?? I will have to check to see if I put in the right school code.

Thank you guys again.

The waiting is horrible. I was just wondering if anyone had any kind of assistance with childcare? Cosmo school is sooo expensive.

So, if I understand then all I can get on a gov loan is 5500.00 if that is how I understand it? Is that by calendar school year or fiscal? Like they have a new class starting in November, and one starting in January. So, could I get the 5500 if 2009 & then some in 2010?

If not, I would have to go private school loan for the remainder?

 

[4HppyCamprs]

StaffordLoan.com will give you all the correct and current information that your seeking

 

[4HppyCamprs]

Okay so since you applied two months ago you probably missed the FaFSA cutoff date of March 8. The first year I was in school I did this and so it didnt get kicked over for Loan consideration til the following spring semester. I had to pay out of pocket for the Fall semester.

 

[1Princess1Prince2006]

I just started back to school this past summer and went into my school to talk with the Finacial Aid Officer. They were really helpful and the loans and grant I received was more than my tuition and books so I was able to get a refund that goes towards my living expenses.

My kids are in daycare and I applied with my states social services for help. I use a state approved daycare and the state pays for most of it while I only have to pay a certain amount each month. They base it on your income and a sliding scale.

 

[rockyroad]

Okay so since you applied two months ago you probably missed the FaFSA cutoff date of March 8. The first year I was in school I did this and so it didnt get kicked over for Loan consideration til the following spring semester. I had to pay out of pocket for the Fall semester.

http://www.fafsa.ed.gov/before003a.htm

 

[raraloveseeyore]

What you need to know is that for career schools it is different than for college. In career schools financial aid is based on hours not semesters. Therefore whenever you start you can start aid. There is no cut off for applying each award year starts on July 1st. You are eligiable for $9500 in loans for your first year.