<p>I just got my financial aid. I’m starting as a senior in the Adult Degree Completion Program. I’m coming back to school after 17 years. I’m married with two small kids. I’m also a stay home dad. I’ve got 31 more units to graduate. I live in downtown Los Angeles and the school is about 45 miles away. It’s quite a drive. I’m thinking of taking one class at a time because i’m planning to work part time and also because of the distance. MY efc is $4,657.</p>
<p>Here’s my financial aid:Summer
Stafford(Subsidized) $4,539
Stafford(Unsubsidized) $4,657</p>
<p>Should i accept or reject?</p>
<p>There’s no point in not accepting the Subsidized - the interest accumulated while you’re in college is paid for by the government. It’s essentially just giving you a grace period until you finish up your studies to collect the money. As for the unsubsidized, if you plan on getting any sort of loan for the rest, you won’t find anything with a lower interest rate (6.8%).</p>
<p>Just something to note, if you only take 1 course per semester you won’t likely be eligable for staffords. To qualify for stafford loans, I believe you need to be going atleast half time.</p>
<p>That said, I’d agree with A2Wolves, there is no reason (other than concern about repayment ability) to not accept the Subsidized loan.</p>
<p>juliuscesar1212 when I went back to school 5 years ago (Chapman University) I needed 36 units to graduate. I was offered basically the same as you were (are). I took one class per term (5 terms per calendar year), and did indeed qualify for those Staffords. So unless that rule has changed, I would think you would qualify. It had to do with the program I was taking (Organizational Leadership) and the fact that I was an adult returning to school. I cannot for the life of me think of what the distinction was, but Chapman had a specific program just for folks like you and me. </p>
<p>Go for it! </p>
<p>By the way…School was so much easier for me as an adult with life experiences.</p>
<p>I have to ask though…couldn’t you find a program closer to home? That was MY saving grace.</p>
<p>Well "just"aMom, if there were 5 terms a year then you were essentially taking 2 courses per semester (putting you at half time). I know one college I attended had 2 6-week sessions each semester and you could take 1 course and qualify. If you were taking standard “semester” or “trimester” courses you would need more courses than 1.</p>
<p>Here is a link to the federal government page regarding this. The “half term” qualification is about half way down the page.</p>
<p><a href=“http://www.studentaid.ed.gov/students/publications/student_guide/2005-2006/english/important-terms.htm[/url]”>http://www.studentaid.ed.gov/students/publications/student_guide/2005-2006/english/important-terms.htm</a></p>
<p>Many Adult Degree Programs are typically designed differently than your typical traditional calendar. At the Institution where I work, our adult students take once course at a time yet are considered by the Department of Education as full-time and as such are eligible for full -time federal funding. What matters most is how the degree program was approved by DOE and the Accreditting Body.</p>
<p>Just to let you guys know that the calendar is four 11-weeks terms and each course is 4 units each. Classes meet from 6-9:30 pm one night each week.</p>
<p>Julius,</p>
<p>My suggestion would be to only take out what you need to cover your expenses. This way you will be able to cover your cost without unnecessary debt. You don’t have to accept the entire Unsubsidized portion of the loan…especially if you do not need it. Schools are required to issue the award packet for the total eligibility, but students are not obligated to take the full amount.</p>