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Tired, just tired of the FAFSA and all hoops. Is a federal loan even possible?

ordinarylivesordinarylives Registered User Posts: 2,977 Senior Member
My oldest graduates this year without taking a dime of federal or state aid. I have filled out the FAFSA every year as a condition of her institutional aid (actually an employment benefit), been selected for verification 3 times. The kid has decided to take the rest of the chemistry required to sit for thr MCAT and apply for med school. This would give her enough credits and meet the requirements for a second degree, btw, and yes, she'd be at least 1/2 time. She'll need an unsubsidized loan, her first. So, another FAFSA, looks like an SAP appeal form because she's finished a degree and is ineligible for more federal aid (even though she's never had any).

I don't think she d independent for FAFSA because she can't answer year to any of the questions. Is there even a point to trying to get a federal loan or will we likely just be buried in paperwork and then told no, she's already got a degree?

Replies to: Tired, just tired of the FAFSA and all hoops. Is a federal loan even possible?

  • thumper1thumper1 Registered User Posts: 68,950 Senior Member
    edited December 2014
    Well...she can't get federal aid unless she is a matriculated student...and not for a second bachelors degree.

    Here is my suggestion. She doesn't graduate until May or June, right? You already completed a FAFSA for THIS school year 2014-2015, right? If she is continuing as a full time student for the spring term now, she can take a $7500 Direct Loan. Your FAFSA for this year is already complete.

    Contact the school and tell them you need the Direct Loan for this term. Then put the $7500 in the bank for those extra courses. She will need to apply for,the Direct Loan, and complete the entrance info session and the promissory note. But she absolutely can get this loan.
  • Madison85Madison85 Registered User Posts: 10,491 Senior Member
    Or, can she add the second major and then not graduate in May (since she will have unfulfilled requirements), and continue in 2015-2016 as a 5th year senior?

    Does she need two semesters of chemistry courses?

    Are you certain that taking courses after she graduates (your/her current plan), presumably as a special student, gives her a second major?

    Has she met with an advisor?
  • mom2collegekidsmom2collegekids Forum Champion Financial Aid Posts: 83,365 Forum Champion
    You probably should submit FAFSA for the CURRENT school year before she graduates. She'll get a $7500 loan for THIS current school year. Then she can bank it, and use it for next fall's classes.

    It is NOT too late to ask for a student loan for this current school year (which sounds like is her senior year). Since everything is already paid for, she'll get a check refund for the whole amount.
  • kgos16kgos16 Registered User Posts: 862 Member
    Not sure if this varies school by school, but a matriculated 2nd bachelors student should be eligible to borrow the Direct loan as long as they haven't reached any aggregate undergrad limits. However, if the student doesnt officially matriculate, then receiving aid is out of the question for that term.
  • kelsmomkelsmom Registered User Posts: 14,871 Senior Member
    Federal loans are possible for a 2nd bachelors degree, and they are also possible for students in a post bacc program. I suggest that the student talk to her aid office to see what might work for her.

    But mom2collegekid's suggestion is best ... sounds like you completed the FAFSA and verification for the 2014-2015 school year. Take the loan before the end of spring classes ... she can borrow up to $12,500, and she can put it in the bank for fall.
  • thumper1thumper1 Registered User Posts: 68,950 Senior Member
    Kelsmom. I think the student is only eligible for $7500 in loand for the current school year. She will get her first bachelors degree in May.
  • ordinarylivesordinarylives Registered User Posts: 2,977 Senior Member
    Correct first bechelor's in May. She cannot delay graduation to add a second major. The first degree is a BSN. She cannot sit for boards until she has graduated. Delaying boards a year is not a good idea; she needs to take those while the info is fresh.

    Will def look into getting the $7500 from this year and banking it. We declined it (like we do every year). Obviously are nowhere near the aggregate loan limit.
  • mom2collegekidsmom2collegekids Forum Champion Financial Aid Posts: 83,365 Forum Champion
    If you already submitted FAFSA for this current school year (but declined the loans offered), just contact the FA office and let them know that you now need them. Not a biggie.
This discussion has been closed.