<p>I just finished up my freshmen year studying music at a university. I thankfully received much financial aid, which essentially has covered me, but I still have to work to pay for my lessons, food, laundry, and etc. I’ve never asked for any money from my parents, except when I absolutely could not pay myself. Their Expected Family Contribution designated to them by the FAFSA was about $1,350 and they’ve only given me about $500 this year.</p>
<p>With that being said, I’m very independent. However, I cannot afford upperclassmen dorms as they are more expensive, so the cheaper route was to rent an off campus place. The only condition about this was I must have a cosigner on the lease. I talked to my dad initially and he said he would cosign the lease if needed. But when I found a place, they immediately rejected the idea and yelled at me over the phone saying they don’t trust me and that I’m not worth putting their credit on the line. Since I have no other family or adult in my life for that matter, I was out of luck.</p>
<p>I talked to the landlord and thankfully she understands and let me sign the lease without a cosigner. But the problem is that my parents filled out their part of the FAFSA a week after the priority deadline and so I will not get enough aid to cover me. If that happens, I will have to take a year off since they refuse on cosigning a private loan for me. </p>
<p>My parents insist that I can merely “take out a stafford loan” but I can only take out what is given to me. they refuse to listen to me, they insist they understand how college works when they clearly don’t. I’ve been applying for outside scholarships, but I’m still afraid I will not be covered completely. What else can I do? I have no other actual family or any adult in my life that would cosign.</p>
<p>As a sophomore, you can get a DIrect Student Loan, formerly known as the Stafford, up to $6500 with some of it subsidized if you have financial need. However, colleges often put that loan into the financial package they put together for you. You need to look at your award and see how much loan is in there , and if any of it says “Direct Student Loan”. If not, you need to file for one ASAP. If you did not take one out last year, you might, just maybe be able to borrow from last years stash of loans. It’s use it or lose it. You could have borrowed $5500 as a freshman. You really should get an appointment with a fin aid officer and see what you can get from last year which closes up at the end of the month and for next year.</p>
<p>If their EFC is $1350, there is likely not much money your parents can give you and they really can’t afford to be taking out loans. I can’'t blame them for not doing so. They are in a tight spot already.</p>
<p>How much were you offered in loans? IF you’re offered under $6500, then you can borrow more…up to $6500.</p>
<p>Have you gotten your aid pkg yet? IF not, then you don’t know if your aid will be less because of the priority deadline. You’re a returning student. Your pkg is done after the frosh’s anyway.</p>
<p>If your parents still think that you can borrow more than you can, call FA while they’re around and have them ask themselves.</p>
<p>I did get $5,500 in Direct loans last year. I’m just worried since they filed my FAFSA out late that I might not get enough to cover me. I still have not gotten back my financial aid package yet either, so I’m basically a nervous wreck.</p>
<p>I understand my family doesn’t have much money, but at the same time they pushed me to go to college since I could speak and now they’re making minimal effort to help me.</p>
<p>I paid for my food, my clothes, my accompanist for voice lessons, my medicine, and etc with my work study job that didn’t pay much in the first place. I don’t understand why they pushed me to go to college if they weren’t going to support me. we’ve been in the same financial situation since my dad retired when i was in 5th grade. I’m just frustrated and I feel like I’m doing this all alone.</p>
<p>And the main reason they said no to cosigning was because apparently somewhere in the Bible, it tells you not to cosign for anyone. (They’re both super religious. My dad has a Doctorate’s degree in Ministry.)</p>
<p>You are PELL eligible with the EFC you have stated. That means that your parents really have to watch their money and for whatever reason they give, they are wise to stay away from loans, including co signing one for you. When you read about parents who make 6 figures refusing to pay a dime for their children’s college, it puts something like this into better perspective. They don’t have the money to support you,and you are going to have to do this alone. It may be that you have to take off a semester and work, and go back second semester, where you can use the full Direct loan for the one term, and maybe take summer school with PELL funds left. Your DIrect Loans won’t be affected by the timing of your FAFSA. Until you get your aid package, it’s impossible to tell what your financial situation will be. You don’t know yet if you can afford your apartment until you get your package.</p>
<p>When you are that close to the edge, you seek other students in the same predicament, and believe me, they are out their. You room share rather than get an apt on your own, which can save a lot more money. You are not on the same playing field as those who have parents paying their way. I know, I was there.</p>
<p>I’m working a job that pays $11.47 an hour, and I’m working 40hours a week. Worst case scenario, I will be able to pay rent. My college is in an urban area with many job opportunities, so if I had to take the year off, I’d have around $4k in savings to go to rent and then I’d work full time.</p>
<p>Here is what you can do if things are so tight that you cannot swing it in the fall. You can work in the fall and keep in touch with financial aid about Spring aid, and take the full year’s Direct loan amount of $6500 in the spring rather than having that split between the two terms. That might help if you don’t get enough aid to swing it for the fall semester. You do need to find out what your aid package from the school will be. The loans and the PELL will not be affected by the late date, but other things might be, depending upon the college. You should be communicating with the fin aid office about this.</p>
<p>EFC is exactly that. Expected FAMILY contribution. If you have significant income that will influence your EFC just as much as your parents. Before you blame make sure your EFC number isn’t being drive by your income.</p>
<p>I would not take a lot of extra loans just bc your parents filled out the form late. If taking a year (or maybe just a semester?) off would make it so you can be eligible for grants instead of loans, then I’d take the time off, work hard, save as much as you can, study independently (maybe you can CLEP a class or two? or study ahead for a class you know you have coming up), and get back to it ASAP. </p>
<p>Next time, I’d arrange to be in person around your parents 30 days or so before the FAFSA, etc, is due. Make sure they do it right then, and see that it is submitted. If they are really resistant, see if there is a respected authority figure (perhaps their minister) who would meet with you and your parents (a few weeks prior to forms being due) to “help you talk about” the forms.</p>
<p>Meanwhile, stay in communication with your financial aid office and anyone else who is willing to help you understand your options.</p>