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Am I the only one who thinks its INSANE that we're all just casually talking about going into tens of thousands of dollars of debt for EDUCATION?? The whole system is predatory. In most developed countries college is free or nearly free. Sorry but I had to say it.
To answer your follow-up question about finding the best private loan options for the remaining $8,750: 1. Compare rates from multiple lenders (Sallie Mae, Discover, CommonBond, SoFi, etc.) 2. Look beyond interest rates - examine fees, repayment options, and hardship policies 3. Consider whether you'll co-sign (this typically gets a better rate but makes you legally responsible) 4. Check if there are any state-specific education loan programs where you live 5. Ask if the lender offers interest rate reductions for automatic payments 6. Look for lenders that offer grace periods after graduation And definitely check with the school about payment plans as another commenter suggested - that can reduce how much you need to borrow!
i accepted my loans last semester but then got a scholarship later and didnt need them, financial aid office said i could just decline them after accepting no problem. but different schools probly have different policies
About your work-study question - typically these positions are reserved exclusively for students with work-study awards, so yes, there is preference built into the system. You'll likely need to provide your financial aid award letter or some verification when applying. Many departments hire work-study students because the federal government subsidizes a portion of your wages (usually around 75%), making it cheaper for the department to hire you compared to regular student workers. This is why these positions are specifically reserved for work-study eligible students.
UPDATE: Success! I used Claimyr this morning and got through to an FSA agent in about 20 minutes. Turns out both applications were held up because they couldn't match one of my W-2s to the IRS data (I had a job change mid-year). The agent manually verified everything and said the SAIs should appear within 3-5 business days. Just wanted to update in case anyone else runs into similar issues. Thanks everyone for your help!
one more thing nobody mentioned is that some schools have payment plans so you dont have to pay everything at once. my school lets me pay in 4 payments over the semester and it doesnt cost extra
This is excellent advice. Many schools offer interest-free payment plans that break tuition into monthly payments. This can be much more manageable than paying a lump sum. Just be aware that there's sometimes a small enrollment fee (like $25-50) to use the payment plan, but it's typically much better than putting balances on high-interest credit cards or taking additional loans.
Thank you all SO MUCH for the helpful advice! I'm feeling much less panicked now. My plan is to: 1. Finish my FAFSA this weekend (with parents' info) 2. Create that spreadsheet showing different payment scenarios 3. Have a serious talk with my parents about exactly what they can commit to 4. Look into payment plans when I get my financial aid package I'll update once I have my SAI and financial aid offer. Fingers crossed for a decent Pell Grant! 🤞
Yara Sabbagh
That's encouraging! When did you initially submit your application? I'm trying to figure out if there's any pattern to when they're completing applications.
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Javier Morales
I submitted on January 9th. I dont think theres any pattern tho cuz my sister submitted hers the same day and hers is still processing
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