FAFSA doesn't cover enough - how to manage student loans with 2023-2024 SAI increases?

I successfully appealed my SAI calculation last semester! The key is documenting any changes in financial circumstances that weren't reflected in your FAFSA. In my case, my parent lost their job after we filed taxes (which is what FAFSA uses for income info). Contact your school's financial aid office ASAP and ask about their Professional Judgment process. Each school handles these differently, but typically you'll need to write a detailed letter explaining why your current financial situation differs from what FAFSA calculated, along with documentation (medical bills, unemployment notice, etc). Also look into school-specific grants. Many universities have emergency funds or supplemental grants for students facing unexpected financial hardship.

its bullshti how they expect us to pay these amoutns.... i got a $32k per yr SAI and my parents make like $120k but with 3 kids in college AT THE SAME TIME. how does that math work??? we each get barely any aid and were all going into major debt. the system is completley broken

Financial aid counselor here. A few important points: 1) The SAI increase many students are seeing comes from the FAFSA Simplification Act changes. The calculation formula changed significantly for 2023-2024. 2) For middle-income families, one of the biggest changes was removing the siblings-in-college benefit that previously divided your family contribution among multiple students. 3) Professional Judgment appeals (what the first commenter mentioned) are absolutely worth pursuing if your circumstances have changed. 4) Look into your school's institutional aid - many schools have funds specifically for students caught in this middle-income gap. 5) Consider reaching out to your state higher education agency. Some states have supplemental grant programs that can help bridge the gap. I also recommend running the numbers on income-driven repayment plans for after graduation. The SAVE plan caps payments at 5% of discretionary income for undergraduate loans.

just so u know the FAFSA simplificatin is a JOKE. its not simpler its just giving less money!! i had a 7k EFC last yr now my SAI is 14k! nothing changed with my family! classic govt move calling it "simplification" when really they just cut funding 🙄🙄🙄

Have u considered community colege for 2 years then transfer? I saved almost $25,000 doing my gen eds at CC then transferring to finish my bachelors. Most of my CC credits transferred and honestly some of my best professors were at the CC not the university.

I had a similar SAI increase issue and was getting nowhere with the financial aid office's general line. After trying for weeks to discuss my appeal options, I finally got through to a senior financial aid counselor using Claimyr (claimyr.com). They have a service that gets you past the hold times when calling federal student aid and university financial aid offices. They have a video demo at https://youtu.be/TbC8dZQWYNQ that shows how it works. Once I got a real person on the phone, I was able to schedule an in-person appointment with a counselor who helped me document my appeal properly. They identified additional institutional scholarships I qualified for that weren't automatically included in my package. Ended up reducing my loan amount by $5,200 for the year.

Something to consider: Apply for every single scholarship you can find, even the small ones. I applied for 37 different scholarships my junior year - many just $500-$1000. Ended up getting 8 of them totaling $7,500. Check with local businesses, your parents' employers, professional organizations in your field, cultural organizations, etc. Even religious groups often have scholarship funds. Also, if you're studying education, make sure to research Teacher Loan Forgiveness and Public Service Loan Forgiveness. If you teach in certain high-need schools for 5 years, you can get up to $17,500 forgiven. PSLF requires 10 years of payments while working in public service, but forgives the remaining balance.

One more strategy: If your school has a payment plan option, sometimes that's better than taking additional loans. My university lets students spread payments across 4-5 months each semester with just a small setup fee ($45). If you can work part-time or get family to help with those payments, you might be able to avoid some of the additional debt this year.

Another option to explore is working as a tutor or teaching assistant if your school offers those positions. Many universities have work-study programs or campus jobs that pay well and work around your class schedule. I worked as a math tutor my last two years and made about $2,400 per semester - not huge money, but it helped cover books and some living expenses so I didn't have to borrow as much. Also, don't overlook summer work opportunities. Some education majors I know worked at summer camps or tutoring programs that paid decent money and gave them relevant experience for their field. Every bit you can earn now means less you'll owe later with interest!