If i already have a subsidized and unsubsidized federal loan for freshman year of college can i apply for more
466441
If you have already received $2625 in Federal Stafford Loan funding, you aren't eligible for any more this year.\n\nNote: if (a) you are independent [officially, as determined by your FAFSA and/or your school] or (b) your parents were denied a PLUS loan, you can receive another $4000 in Unsub Stafford as a Freshman.\n\nYou might be eligible for a Federal Perkins Loan (if you demonstrate financial need).  Perkins Loans are administered by your school and it us up to them to decide if you will receive one.\n\nBeyond that, you could apply for a private loan.  It can be hard to obtain private loan funding as a Freshman, particularly if you don't have a co-signer.  Do you have credit?  If so, you might be eligible for any number of private loans.  Check out finaid.org's list, here: http://www.finaid.org/loans/privatestudentloans.phtml
1187426
Yes, there is, and it all begins with the FAFSA.\n\nIn order to apply for Federal Student Aid (FSA), you will need to complete the FAFSA (Free Application for Federal Student Aid) at http://www.fafsa.ed.gov (the only official site, belonging to the Dept of Education).  This application will help your school determine yor eligibility for FSA, which includes the Pell Grant, SEO Grant, Stafford Loan, Perkins Loans, Work-Study Program, Academic Competitiveness Grant, and the SMART Grant. (Keep in mind that even *loans* are considered financial aid and they are all applied for using the same application.) Some of these awards (like Pell and SEOG) are only intended for low-income undergraduate students.  However, any applicant will, at the very least, be offered an Unsubsidized Stafford Loan.\n\nThere is also *state* financial aid available for high-need students. Your school will also use the FAFSA to determine your eligibility for loans and grants offered by your *state* education department. The types of grants and loans you may receive will vary widely from state to state. Usually, there are time constraints associated with state aid (i.e. each state will set their own deadline) -- so you should check on that FAFSA website for the deadline for your state and make sure you have filed your FAFSA before then.\n\nMost schools also use this form to establish your eligibility for any financial aid that they have to offer (scholarships, etc.), which may be based on need, academics, or both. \n\nIf you find that your federal, state, and institutional aid package does not cover your costs, you can apply for a private loan or, if you are a graduate student, a PLUS loan (which, as an undergraduate, your parents would need to borrow FOR you).  For a list of popular private loan lenders, try http://www.finaid.com/loans/privatestudentloans.phtml
422888
Did you at least get *something?*  If you got something and it simply wasn't enough, there are any number of reasons why you didn't get enough.\n\n1.  Loan/grant limits.  It is possible that, even if you have been given everything they have to give, the funding just doesn't exist.  Every federal program has limits.  Pell grants are capped at $4050 for full-time students; Stafford loans are capped at $2625 for Freshmen; Perkins loans and SEO Grants are capped at $4,000 for undergrads (and not all schools can offer Perkins or SEOG, and those who CAN often don't have enough of it to give the maximum).\n\n2.  Dependency status.  If you are an undergrad, are under 24, are unmarried (without kids), and are not a veteran or an orphan, you have to include your parents information on your FAFSA.  Your EFC, which is used to determine your eligibility for aid, is based on the income and assets of both you and your parents.  If your EFC exceeds the cost of your attendance, you probably aren't eligible for much more than an Unsub. Stafford Loan.  To find out what your EFC is, check your FAFSA results (on the SAR or "Student Aid Report" that you would have received after you filed the FAFSA) or call your Financial Aid Office.\n\n3.  Your enrollment status.  Many financial aid programs are limited to half-time or full-time students.  If you're not taking enough credits, you might be eligible for a lot less than a student taking a full credit load.\n\n4.  Accreditation.  It's possible that your school isn't allowed to administer student aid programs, or that they are only allowed to administer *some* of those programs, like Pell and Stafford only.\n\n5.  You might have made an error on your FAFSA that makes you look more wealthy than you are.  This happens a lot but can be corrected.  Go over your FAFSA results carefully to make sure that you didn't add in any numbers that shouldn't be there.\n\nNot every school has the means to meet every student's financial need. You or your parents can borrow a PLUS loan or a private loan to cover what your Federal and institutional financial aid package does not cover.  Visit this site for a list of reputable education loan lenders: http://www.finaid.org/loans/privatestudentloans.phtml
390749
It depends on your school and how much they charge for tuition, how much you make, whether or not you are a dependent of your parents, how much you parents make if you are their dependent (24 being the cut-off age unless you have a kid, are in the military, can prove some extenuating circumstance, are a ward of the state, and some other qualification I cannot recall)...et cetera. \n\nIf you do not qualify for federal grants, you can always try for loans, but my recommendation is to only take out what you need to cover books and tuition to avoid the high debt that I am currently incurring because I live on my loans.
1089054
It depends on the type of loan (Federal, state, private, or institutional).\n\nTwo of the major Federal Student loan programs -- Stafford and Perkins -- are unique in that they require absolutely NO credit check. In fact, Financial Aid Administrators are forbidden from checking your credit as a condition for receiving these loans. You don't even need to show financial need to obtain an Unsubsidized Stafford Loan -- as long as your school is accredited, you are enrolled at least half-time as a regular student, and your other financial aid doesn't exceed your Cost of Attendance, you will be offered a Stafford Loan. \n\nThe Federal PLUS loan program does require the borrower to undergo a credit check, but it is usually a fairly "shallow" check. Most PLUS lenders just want to see that you haven't defaulted on any other student loans.\n\nLenders of private loans will perform a credit check and, if your credit is bad, you may be denied for a loan through them. However, if your credit is less-than-perfect, you can apply with a co-signer and their credit will act as a sort of "stand in" for yours. (Some borrowers have a tough time getting a friend or family member to co-sign their loan, since, technically, the cosigner is responsible for the loan payments if you aren't good about keeping up with your payments. However, you can seek out a loan that offers a "cosigner release" so that, once you've made a certain number of payments on-time [36 or 48, typically], your co-signer will be let "off the hook.")\n\nEvery company will have slightly different credit criteria, so you might get approved for a loan at one company but denied with another. If you're interested in learning more about the various lenders' credit criteria, start with the list of private loan lenders on FinAid's website: http://www.finaid.org/loans/privatestudentloans.phtml . You can go to each lender's site and read the terms and credit criteria of their loans until you find one that's right for you.
30712
Grants, by definition, are gifts of money that you never have to pay back. Loans DO need to be paid back.\n\nThe Stafford subsidized loan offers a lowered interest rate, and this is available to students once they have filled out the FAFSA. Additionally, the Stafford loan which is not subsidizes already offers a low interest rate in addition to a deferred payment plan, which allows you to hold the loan without paying it until 6 months after graduating from college.\n\nDepending on the state that you live in, different grants are available to students through the FAFSA. In California, for example, the Cal Grant is offered. In California, CalGrant A offers up to $2520 to qualifying California students who attend a state school, and a maximum of $8322 for qualifying California students attending a private school. Qualification is based on many factors, including GPA and your parents' annual income.\n\nI personally receieve the maximum Cal Grant A amount given to qualifying California students for attending a private school-- $8322. Additionally, annually I receieve a $2259 Stafford unsubsized loan, and a $1241 Stafford unsubsized loan.\n\nThe PLUS loan is also offered to parents only. The PLUS loan does not offer deferred billing, but does offer a low interest rate.\n\nOnce again, qualification to most financial aid programs is achieved by completing the FAFSA.
381209
First, know that your childen will be eligible for Stafford Loans regardless of whether they show need or not -- this is why the Unsubsidized Stafford loan was created.  Loan limits for this type of fund are increasing, too, beginning with the 07-08 award year.  \n\nBeyond that, if *you* are applying for loans for your children, you wouldn't want to reduce your income at all! PLUS loans, and most private loans are credit-based; your lender will be looking for halfway decent debt-to-income ratio.  In this sense, hiding your income/assets to make your children federally eligible could hurt you when it comes time to borrow privately.\n\nWhat are colleges looking for?  The same thing that the feds are when you file the FAFSA: income (taxable and untaxed) and assets from both student and parent; in-kind support that the student has received; how many other children are in your household and, of those, how many are currently college undergrads, etc...\n\nWhen it comes to additional information, we're looking for anything *else*.  If a parent appeals on the grounds that their income is X and their assets are Y -- and this is the same information that they provided on the FAFSA -- there isn't much new information there.  \n\nThings I will consider as "special circumstances":\n\n* "I lost my job midway through last tax year and my '05 income isn't indicative of what my 06-07 income will be."\n* "I recently got divorced."\n* "During the last tax year, I had a lot of medical bills that weren't covered by my medical insurance."\n\nThings I *won't* consider in an appeal:\n\n* "My other daughter just got married and I had to pay for a costly wedding for her"\n* "I live in X state where the cost of living is much higher than in Y state where your college is"\n* "I have a lot of debt" (yes, debt is certainly grounds for financial hardship, but if we consider your debt, we'd have to consider everyone else's; when the feds are ready, they'll ask the debt question on the FAFSA -- until then, I can't include it)\n* "I [the parent] am in school myself" (So, you used your kids' college savings for yourself?)\n\nAs for tricks...\n\n::sigh:: No Financial Aid administrator likes to hear that people are seeking out "tricks of the trade" or trying to hide income/assets, so any expert who's willing to give them to you isn't very reputable to begin with.  \n\nThat said, if you're curious to see where you might be hardest hit, the first thing you should do is perform your own EFC calculation to see where the contribution comes from.  A good website for this is www.finaid.org's Calculator page, here: http://www.finaid.org/calculators/finaidestimate.phtml  This page is slightly simplified; if you want to perform the actual calculation by hand, you can go here: http://www.ifap.ed.gov/efcinformation/attachments/0607EFCFormulaGuideDecFinal.pdf\n\nOnce you do this, look at WHERE your EFC comes from.  Is it assets or income?  Is any of it from the *student*?  Some people don't realize that student income/assets are converted (i.e. held against them/you) at a much higher rate than parent assets/income.  I've had parents ask why their EFC is so high and it turns out that their son had $10,000 in savings bonds, 35% of which was counted towards a single year's EFC. The most well-known "trick," then, is to transfer any student assets into the parents name.  Were these assets in the parents name, only 12% (at most) would be counted towards the EFC.\n\nMost people who fall into the middle class category get burned not by their assets but by their income, because assets are protected (to a point) whereas available income is "counted against you" more more heavily.  There's very little way to hide income, because your school can, at any time, request copies of any information that they
1162923
In the US fill out your FAFSA form to find out, you will more than likely be able to get a loan, but it won't be great.\n\n\nwww.fafsa.gov
309979
Unsubsidized loans accrue interest the entire time you're in school (and every other time).  If you pay this interest as it accrues, you will save yourself some money in the long run.  If you don't pay interest while it accrues, when you graduate the accrued interest will be capitalized -- that is, it will be added onto the principal balance of your loan right before you enter repayment (and, if the lender wants, periodically after that).  This is what people mean when they talk about "paying interest on top of interest."\n\nIf you're not SURE if you want to do pay interest as it it accrues, you can always say "no" now.  if you have money to spare later on, you can send a check to your lender for whatever amount you wish (note: call/email them first to get the appropriate contact information and write a little note with the check so they know exactly what you want them to do with it.)
429344
A Stafford loan is a low-interest federal student loan (currently 4.7% for student in school). This loan can be subsidized or unsubsidized.  In this case, say that a loan is subsidized means that the government is paying the interest on the loan while you are in school and during any periods of deferment/grace (i.e. if you apply for and are approved for an Economic Hardship Deferment once you enter repayment, your loan won't accrue interest during the deferment period).  If your Stafford Loan is UNsubsidized, that means that the government does NOT cover the accruing interest.  So, if you borrow $2500 your Freshman year, the loan will have accrued interest while you are in school such that, by the time you graduate, the amount you owe will be more like $2,750 (assuming a rate of 4.7% -- though Stafford rates will be fixed at 6.8% beginning July 2006). Interest really adds up -- but that's true of any loan.\n\nWhen you file the FAFSA to apply for federal aid, you will be applying for a generic Stafford loan.  Whether that loan will be Subsidized or Unsubsidized is something your school will determine.  Generally you can only receive a Subsidized Stafford loan if you show financial need.  If you don't show need, your Stafford loan will be Unsubsidized.  [There are some ways that a student can get both the full amount of their Sub and additional Unsub, but this generally involves being independent or being a dependent student whose parents have been denied a PLUS loan.]  Check with your school to see which you qualify for.  Stafford loans involve no credit check, so there's no harm in applying, see what you are offered, and then deciding if you wish to borrow.
429762
Go to your college financial aid office and ask them. Good luck!
901618
Yes. You will need to contact your loan provider and submit your acceptance letter from the school that you are attending. The amount will be deferred until you graduate. Mind you the interest will still accumulate and will have to be paid back in the end.
262154
If what you're looking for is information about how much you would be eligible to receive or how much a school would offer  you, there's no substitute for contacting the school's Financial Aid office directly.\n\nYou can find a little bit about them in general at http://studentaid.ed.gov/  I've pasted in the basics of that information below.\n\n-----\n\n"Federal Supplemental Educational Opportunity Grants (FSEOG) are for undergraduates with exceptional financial need. Pell Grant recipients with the lowest EFCs will be the first to get FSEOGs. Just like Pell Grants, FSEOGs don't have to be paid back.\n\n"You can receive between $100 and $4,000 a year, depending on when you apply, your financial need, the funding at the school you're attending, and the policies of the financial aid office at your school.\n\n"If you're eligible, your school will credit your account, pay you directly (usually by check), or combine these methods. Your school must pay you at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year."
230457
No. You can not be in default on another student loan and expect to get another loan. You will be declined for sure.
907816
You need to go to the school and apply with a financial aid advisor. I got a loan with no cosigner, bad credit, no job. My loan covers all that my scholarship and grant will not cover.
456484
I never heard of paying for one semester on your own to qualify again. I do know that if you have too many "W" or withdrawals/late drops that it will effect your financial aid, but you must accumulate a certain amount. Also if you are a full time student and you do not complete the minimum 12 units you need to notify financial aid with an explanation. Also depending on how low below the required units you complete, you may have to repay them back all or a portion of the Aid awarded to you.
449382
Have you applied for financial aid (FASFA?) they give student loans and grants and you don't need a cosigner.