<p>So, I’m currently a freshman going to a community college, and my only source of (personal)finances is a full pell grant. I’m staying with my girlfriend and her mom right now…but none of us are currently working and we are living off of my girlfriends mutual fund(and some of my grant as well) and if this continues it will probably be used up in about a year. And then foreclosure and all of that depressing noise.</p>
<p>While I’m not necessarily counting on any of us being jobless that long, I would like to plan just in case. </p>
<p>Would it be practical to take out a stafford loan to pay for an apartment for the years that I am in school? Where would I go to apply for this? Does the loan reduce my aid at all? If so how much?</p>
<p>Again I’m not planning on going jobless the whole time it’s just the job market here sucks(and I mean really really sucks) and I think it’s best to plan for the worst…</p>
<p>Get thee to the library and get a copy of “How to pay for college without going broke” which lays out a great deal about the different types of loans. </p>
<p>Honestly, I suspect your best path forward may be to pick up an internship so you have a skill set that is needed. Check with your CC to see what they have going for internships. Many times you can learn a skill while earning a paycheck and have a direct path to employment as you finish your other classes.</p>
<p>You can apply for scholarship to get financial aid. Numerous private organizations, non-profits, and businesses offer scholarships for community college students. To find out about scholarships for community college students, you should talk to your community college financial aid office.</p>
<p>A Stafford loan is offered through the school. Did your school offer you a Stafford (or direct) loan?</p>
<p>Total aid, including grants + scholarships + loans, cannot exceed the COA (cost of attendance) of the school. If you were not offered any loan money. it may be that your Pell covers the full COA of this school. If that is the case, you will not be eligible for a Stafford (Direct) loan. If the school’s COA is higher than your Pell grant, you need to ask the school about whether you are eligible for a loan. (both my kids were automatically offered loans as part of their FA from their schools).</p>