<p>I am going to attend a community college and I called the financial aide office to see what the “total cost of attendance” is and she said it is about $12.000 per year for someone going full time because they do not offer room and board. that would leave less than $7000 after tuition and books. Is it true that student loans are limited to this amount?</p>
<p>If I am able to get scholorships will this be included in that amount or would I still be able to borrow the $12000 (minus pell grant) and have scholorship money on top of that?</p>
<p>I wanted to get loans to cover most of my income (15,000) so I could concentrate on nursing school without neglecting my young children.</p>
<p>Also, the lady at the financial aid office seemed confused when I asked her what the “total cost of attendance” was. Could this figure be wrong? Or is this a normal amount? She also did not know That I am an independent head of household.</p>
<p>Student loans are limited to the schools COA less any other aid/scholarships. Scholarships will generally reduce your need, reducing the need based aid you are eligible for.</p>
<p>I had a hard time getting the total COA from my son’s CC (which does offer dorms). They only published tuition/fees/room& board estimates and no COA amounts for travel/misc etc. I wanted it as we had a little money in a 529 account for him and I was trying to figure out how much we could take out to help him with his bills. The lady I was talking to was trying to be helpful but did not know what I was talking about. I eventually sent an email and it got to the head of the financial aid department (which is only about 3 people there ) and got the # I needed. It might be worth you talking to someone higher up. However it sounds as if the COA you have been given already includes costs outside of tuition/fees so you might not get a different answer.</p>
<p>Your being the head of household will not make any difference as far as the aid they are allowed to award you. Your being independent makes you eligible for slightly higher loan limits (though still not in excess of COA less other aid). It will already have been reflected in your EFC which, along with their COA, is what the school uses to calculate your need. Other than that it is not relevant to the financial aid process. An 18 year old single student with a 0 EFC or a 30 year old parent with a 0 EFC have the same calculated ‘need’ as far as the financial aid process.</p>
<p>That is what I was afraid of. I’ll be getting 4900 from the Pell Grant, which will cover tuition, but nothing more. I was hoping to borrow another $15000 to cover expenses, but I guess that is not how it works. It looks like I would be eligible for 95000 through the Direct Loan Program alone, but that would exceed the COA.</p>
<p>emmasma, your college costs should include room/board/fees even IF you are a commuting student. Your loans CAN include those costs, I believe. The school SHOULD have a cost of attendance for commuting students as well as residential students.</p>
<p>Montgomery College, one of the Maryland community colleges, lists COAs for students living in county and commuting from home, living in county on their own, out-of-county but in-state students, and OOS students:</p>
<p>Schools are not obligated to put living expenses in the COA. We have several schools in our area that do not include the cost of housing in their COAs. If you feel that you should have a larger budget for whatever reason, and if you are able to document your costs, you can request a budget adjustment. There is no guarantee you will get it, but you might.</p>
<p>The total amount it will cost you to go to school—usually expressed as a yearly figure. It’s determined using rules established by law. The COA includes tuition and fees; on-campus room and board (or a housing and food allowance for off-campus students); and allowances for books, supplies, transportation, loan fees, and, if applicable, dependent care. It also includes miscellaneous and personal expenses, including an allowance for the rental or purchase of a personal computer. Costs related to a disability are also covered. The COA includes reasonable costs for eligible study-abroad programs as well. For students attending less than half-time, the COA includes tuition and fees and an allowance for books, supplies, transportation and dependent care expenses; but can also include room and board for up to three semesters or the equivalent at the institution, but no more than two of those semesters or the equivalent may be consecutive. Talk to the financial aid administrator at the school you’re planning to attend if you have any unusual expenses that might affect your cost of attendance.</p>
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<p>The above is from the federal student aid website.</p>