Financial Aid Appeal

teachandmom
Mon, 05 Mar 2012 21:28:56 +0000

Collegescol, do you have another option? YOU probably won’t qualify to take out any loans beside what was offered in the FA package. If you have a 0 EFC, your parents probably don’t have much money, and therefore should not “co-sign” for you because if you can’t find a job that pays enough, they will be stuck paying any loans they co-sign. They also shouldn’t take Parent Plus loans if money is a real issue. Those start being paid back within the first school year, a bit after the final disbursement. They would have to add that payment to their budget. Taking out a loan for each year of school will make the payments larger and larger each year, and they won’t finish paying until well after you are out of school. Do you really want to do that to your parents? Unless AU comes through with a lot more money for you, this school, as wonderful as it is, is out of your financial league. Sorry. You will find another great school that you can afford to attend and that still allows your parents to sleep at night without added financial stress.