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my cousin waited 2 days after processed and my other friend waited like 3 weeks so who knows lol. the whole things broken this year
UPDATE: I finally got through to someone at FSA! Turns out there was a verification flag on my application that wasn't showing up anywhere on the portal. I had to submit my parents' 2023 tax transcript and W-2s. The agent said once those are reviewed, my SAI should be generated within 3-5 business days. Just wanted to update in case anyone else is having similar issues. Always call and check if you're not seeing your SAI within a week of the "processed" status!
Thanks for the update! This is unfortunately a common issue with the new system - verification flags that don't show up on the student portal. For anyone else reading this thread: about 30% of all FAFSA applications get selected for verification, and many students don't realize they've been selected because the notification system isn't working properly. Always worth calling if you don't see your SAI within 7-10 days of the "processed" status.
If you need to speak with someone at Federal Student Aid without the wait time hassle, try using Claimyr (claimyr.com). I was getting that same error code and kept getting disconnected after 30+ minute waits. Used their service and got connected to a FAFSA rep in under 5 minutes who explained exactly how to resolve the 2264 code. They have a video showing how it works: https://youtu.be/TbC8dZQWYNQ The agent I spoke with was able to override the error in my case since I was submitting for early admission deadlines.
I've never heard of this service but I'm desperate at this point. Did they just connect you to the regular FAFSA phone line or something different?
UPDATE: I finally got this resolved! Used Claimyr to reach a FAFSA agent who explained that code 2264 was specifically because my dad filed an extension AND reported a different income amount than what was on his previous year's taxes (he's self-employed so it varies). The agent manually noted this on my application and told me to submit the paper tax transcript once available, but said my application can proceed for now with a special note that I'm not trying to commit fraud or anything. My early decision school confirmed they'll accept this explanation with the pending verification. Thanks everyone for your help!!!
My cousin was just talking about parent plus loans the other day. Her mom got one but its been a hassle for them cause the money gets sent to the school not to you directly i think? And she said they had to pay some fee upfront which was annoying. Something like 4% which adds up to ALOT of money!!
Yes, Parent PLUS loan funds go directly to the school first. The school applies the money to outstanding charges (tuition, fees, room and board if living on campus), and then refunds any remaining amount to either the parent or the student (depending on what the parent selected on the application). And you're right about the fee - it's currently about 4.2% of the loan amount that's deducted right away. So if your parents borrow $10,000, only about $9,580 actually goes toward your education. That's why it's generally better to max out your federal direct loans before turning to PLUS loans, since the fees and interest rates are lower.
Thank you all for the great information! I definitely misheard "Parent PLUS" as "College Plus" and was getting so confused. I'll talk to both my parents about this option, but given my dad's credit issues, we might need to look at alternatives. I'm going to schedule an appointment with my financial aid office to discuss all options based on our specific situation. Is there anything specific I should ask them about besides the Parent PLUS loan?
When you meet with the financial aid office, also ask about: 1. Any institutional scholarships or grants you might qualify for 2. Work-study opportunities on campus 3. Payment plans that might allow you to spread tuition payments over the semester 4. The process for submitting a special circumstances appeal if your family has had recent financial changes not reflected on tax returns 5. How a Parent PLUS denial would affect your specific aid package 6. Any state-specific programs you might qualify for Bring documentation of your father's credit issues if you have it, as this might help with your case for additional institutional aid.
File them as separate complaints to make sure each issue gets proper attention. And one more suggestion - the PSLF Waiver that ended in October 2022 had provisions that might have helped your situation, but there's a lesser-known program called the IDR Account Adjustment that's still ongoing. This adjustment is reviewing accounts and may retroactively count some periods of forbearance/deferment toward forgiveness. \n\nThe deadline for consolidation to benefit from this has been extended to April 30, 2024, and you don't need to take any action if your loans are already Direct Loans. This could potentially help with some of your time in default as well.\n\nYou can read more about it here: https://studentaid.gov/announcements-events/idr-account-adjustment
Genevieve Cavalier
So glad you got it figured out! This exact type of formatting "error" happens constantly. It's frustrating they can't build a better system that accounts for these minor differences. At least you caught it early before scholarship deadlines!
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Ethan Scott
Typical government inefficiency! Glad you got it sorted out though. This kind of nonsense is why people get so frustrated with the whole financial aid process.
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