Hello all! I know I haven’t been on here in a while, however, I do owe you all the final recap of my whole finances conundrum!
My NGSC Award came out to $10,184 for the school year (Which is applied as ~$5,092~ per semester). That $10,184, along with my Vantage West scholarship (~1,000), and my ASU University Scholarship (~$2,000~) totaled out to $13,184.
All of these funds were successfully applied and covered all of my tuition and fees (Including the $750.00 mandatory for Barrett)!!!
Now, my meal plan is $2,365.00, and my room is $4,355.00. That totals to ~$6,720.00~
Currently, I also have my AmeriCorps Segal Education Grant which is $1,212,70.
I also did not accept any loans (I was offered the Direct Unsubsidized Loan and the Parent PLUS Loan)
If I accept the Direct Unsubsized Loan, money from my AmeriCorps Segal Grant can be applied towards loan payments.
There is a job fair occurring tomorrow and you can bet your sweet butts I will be there, but until I firmly receive a job and am successfully and truly hired, I am contemplating.
Let me know if you guys have any more questions!!!
Congratulations on getting your tuition covered. I hope your parents can help with the room and board, but otherwise your freshman loan of $5500 and your Americorps award of $1200 will cover it. Use any money from the job for incidentals.
^ No she doesn’t. Those costs are per semester.
When do classes start? Do you still have time to figure this out? It may be time to talk to your parents and ask for help with room and board.
Thanks for reporting back!
Yes, it’s great that your tuition and fees are all covered.
But even with the Americorps scholarship you will need $12,000 for room and board and books too.
When is your bill due? Do your parents have $6,000 to pay for first semester?
A job is great, but you have to be sure you have time for your studies and fulfilling the requirements of NGSC.
Weren’t you supposed to get a $2500 living stipend too?
Love, thanks for keeping us posted. When is your first semester bill due and what’s the plan for paying the room and board? And books- you’ll need to buy them once you register even though your job won’t pay you until you’ve actually worked your hours… have you thought through the cash flow implications here?
Hey guys, sorry I’m late to respond.
I have already purchased/rented my books and supplies (Roughly, I’ve spent close to $500).
The first bill is due August 25.
How are you going to pay your first bill? Did your parents decide to help out?
Even if you take the $5500 loan, there is still a couple $1000 balance. And you declined the loans? For a first time borrower it might take a few weeks after entrance counseling and MPN are done until the loan disburses.
You need to make sure you have all costs covered. Are your parents taking out a plus loan? You said your mom is still paying her loans, how much can they help you?
If the plan to pay for the first year is this shaky, have you thought about the other three years (at least) and have a plan to pay for them?
@whitespace this has been an ongoing story for months. Posters have begged the OP to think about this long-term. I’m not even sure she has the whole first year covered let alone beyond that.
It looks like you’re left with a gap of around 3300 each semester WITH the direct loans factored in. How are you covering that?
No, I haven’t declined any loans. I have them in my account, just none of them have been accepted or disbursed.
So then what would the Parent PLUS Loan be for? This is where I’m confused.
@romanigypsyeyes Thank you for the heads up. I have been following for a little bit, although admittedly not closely.
OP - have you figured out exactly how much your parents will contribute and when they will contribute it?
So IF you accept the direct loans, you owe about 3300 for the semester.
The PLUS loans are loans your PARENTS take, not you. They can cover up to the remaining COA (ie the 3300) with that.
You need about $6700 for room and board. You can pay that Aug 25, you can ask them for a payment plan. If you take the loan, you’ll get about $2700, so you’ll need $5000. You can use the $1200 from Americorps, then you’ll need $3800. Your parents could take a Plus loan for that, or they could pay about $1000/month (Aug, Sept Oct Nov).
Same thing will happen in Jan. You need to take the loans,and figure out where the other money is coming from ($3800 in the fall, $5000 in the spring).
Do you have any money in your account after the $5092 was applied to tuition? Is the $1000 Vanguard and $2000 ASU award per semester? Is it all applied in the fall?
My D has a tuition scholarship. So we know that we have to cover room and board, books and fees.
We know if we can’t afford it, she (and us as well) have to take out loans to pay for it.
In the first year she had to accept loans in June, this year in July.
That is do that there is time to process things and get the funds in time, especially the first year.
I understand that you don’t know exactly how much the NGSC scholarship is, but you were told that at most it would cover tuition, right? And the stipend would cover fees and maybe some of housing.
So you have to figure that you will need $12-13k a year.
If your bill is due Aug 25 then you have received a bill, how much is it? $6000?
You need to ask your parents if they will apply for parent plus for this semester of $3000 and you can take your student loans. If they get denied you can bortow $2k more, but that’s it.
But you need to get this done now so they can post to your account in time.
@mommdc My NGSC award was completed ( I made MANY phone calls, I wasn’t the only one who was upset with the Financial Aid office’s delay), and my $2,500 was also included with the award.
The info about the Parent PLUS Loan was helpful, because today I was just talking to my mom about declining it!!
Also, I know this may seem a little of topic, but there was one scholarship I had applied for (It was only for $500) but I don’t know whether to just forget about it or to still hang on. I applied back in February, at first it was due in March, but then it was extended to May 1st. They said the winner would be announced in Summer 2016, and I even messaged the person personally, and he said he was personally reviewing all of the applications and wanted a selection to be made by the first week of August. I’ve checked the website and FB page almost daily, but I don’t see any info.
Maybe the OP has decided to commute.
Oh, I see where she mentions room and board costs in her post. OP, have you sent in a housing deposit?