Check out this quick primer on the types of loans and lenders so you can better evaluate your financial aid offers: https://www.collegeconfidential.com/articles/learn-about-student-loans-and-lenders/
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Learn About Student Loans and Lenders
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HOPE and other scholarship?
I have few question about scholarships.
1. For GA HOPE scholarship student need to apply or does school do it?
If student need to apply ,where they need to apply,like link or website?How to find out last date of applying?
2. Any good website to find scholarships?How is fastweb.com?Its ok to make account on that?Or any other websites ?
Thank you.
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Lost scholarship replaced by loans?
My son earned a scholarship from his college. Due to poor advising and us dropping the ball on tracking his FA, he will lose his scholarship in the fall because he can't repeat a class he failed first semester freshman year.
If our EFC was 20000, and his scholarship was 20000, would he get an extra 20000 of loans, or would they just cut the scholarship with no changes to the loans, making us pay 40000?
I will talk more to the FA office, but other people's experiences or knowledge wouldbe helpful.
Thanks!
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Recommendations for Scholarships
Hi everyone,
Since I am about to wrap up my college apps (2/1 deadlines), I am now looking for some scholarships to apply to. Given that many of the major ones have already passed (Gates, Coca Cola, etc.) are there any more that are considered "major" in terms of giving money to students from low-income families?
Thanks so much for the help!
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Gofundme? Is it worth it?
I recently started a gofundme for myself to help with costs I still have for this semester. I’m on a payment plan since it’s hard to pay it all at once. Financial aid only covers a bit of what is owed and it is with a loan. I have costs of books that are more expensive tham ever along with my new installment to pay by the end of the month. I’ve posted my link everywhere but I haven’t have responses. I wanted to know if anyone has had luck with gofundme and if so how?
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URGENT: plzzz CSS Profile
Okay so if anyone can help me in the CSS profile process.
I am in the parent housing informations sections
For the Amount owed on home and the amount owed on the primary mortgage for the home, I feel that the amount should be different for my situation but I dont understand fully and I just want to make sure.
So for my data , it is..........
Principal--> $724.35
Interest--> $2281.55
Escrow--> 542.91
Total Monthly payment--> 3548.41
For the amount owed on home it says to exclude interest and escrow so I put an estimate total left to pay by multiplying my monthly principal amount by the months left to pay.
So do I include just my escrow and interest for the amount owed ont eh primary mortgage for the home, or do I include principal, escrow and interest or what do I do.
Also if the info is needed my family bought the house for $710000 in the year of 2018.
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tax on merit scholarships
Want to make sure I have this correct. This is year 1, so we only have one semester of costs. Dollars will be different next year.
Year 1 total scholarship aid (most direct from school plus outside scholarships) of $14.5k. Qualified expenses of $6.5k (in-state tuition, fees, and books). Net of $8k is taxable income. Standard deduction of $8k offsets, so no tax due.
Year 2 total scholarship aid of $27k. Qualified expenses of $13k. Net of $14k is taxable income. Less $12k standard deduction is $2k, which will be taxed at my parent rate.
No AOC credit to anybody obviously because no net out of pocket costs.
Sound right?
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1098-T and 1099-Q not matching. Problematic?
From my understanding, the amounts never match on the 1098-T and 1099-Q (the form generated from a 529 fund manager showing distributions). That's because 1098-T can show what was billed or what was paid; and they often don't account for R&B; and they certainly couldn't account for books and supplies, which are QEE for using 529 funds. Schools won't know what you paid for those QEEs.
However, I've been reading quite a bit that this very common mismatch causes an auto-generated letter claiming you have non-qualified distributions. In many cases, I've read that you send a simple letter back outlining QEEs, with receipts if needed, to show that your distributions did not exceed QEEs . And that's all it takes, though it's all stressful and annoying. So now I'm just wondering if I should just come to expect this every year for the next umpteen years that I will be withdrawing funds from our 529.
• For 2018, I made two withdrawals from the 529. One withdrawal went to DS (beneficiary). One went to the school directly for R&B and fees. The 1099-Q should be sent to DS, not to me.
• I have not yet seen a 1098-T yet for 2018 but assume those numbers and the numbers on the 1099-Q will not match, because one of the withdrawals I took was for his computer.
• All 529 funds were used for QEEs.
• Therefore, my understanding is we wouldn't report any non-qualified income on our return or on DS' return.
Knowing the above, I'm interested to hear if anyone has encountered one of these dreaded letters from the IRS even though their 529 withdrawals are qualified. If so, how long after you filed did you hear from them and was it easy to resolve?
Thanks in advance.
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Losing Merit Scholarships Senior Year
I am looking to attend several colleges that are out of state and out of budget range without merit scholarships. Luckily I recently improved my ACT scores and got merit scholarships that bring them down to in-state tuition. For one of the schools the requirements to get that scholarship is a 29 ACT and a 3.75 high school GPA, the problem is that right now my unweighted GPA is 3.76. Of course I will do my best to keep my gpa from dropping, but if it did would the school rescind that scholarship offer. In the award information they don’t say anything about maintaining the scholarship in high school, only while your at the college. I would just hate to commit to a school and then have my gpa drop the last month of my senior year and end up not being able to afford school. Thanks for the help.
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Cost of Attendance Question
So, I have a quick question:
Since my parents were never married, the net price calculator is inaccurate for us as they live in different states and are not together. I live with my mom, and my dad lives on the east coast. I've already filed my FAFSA, so now I'm moving on to the CSS profile.
Whenever I use the net price calculator and combine their income together, most give an estimate of $20k that we'd have to pay out of pocket. Their income is around $100k if added together this way.
Whenever I run my parent's financials separately, the cost of attendance is drastically reduced...almost to 10k as my EFC (from my mom's income) for the FAFSA is around 3000. With my dad's income, his efc is around $8k as he makes $70k.
The calculators on the website say to run both incomes separately as they have separate taxes, households, etc. and then to add the costs together to see what I'll have to pay. Is the 10k cost of attendance closer to what I'll have to pay?
My mom can afford $10k if that's accurate, but not the 19k if our incomes are ruled together. I've already applied to financial safeties, but I wanted to see which situation is the most accurate as two of my schools require the non-custodial CSS form.
Thanks!
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transcripts
How can you get student loan without transcripts?
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Question about CSS Home equity
Hello
I am an international student applying to the US. The primary home we live in is held in my name but owned by my father. The problem is that I do not know if the primary home is considered an asset and whether I should indicate that my parents have an asset held in my name. After all, shouldn't the primary home be viewed differently than the other assets?
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Scholarships/Aids for out of state
Hello there,
Are there any aids or scholarships available for students who wants to go out of state college?
Please share any links or references. Thank you.
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FAFSA didn't pay my housing bills
I go to UCR right now.
I applied for FAFSA and everything was complete but I keep getting emails saying that my housing fees are unpaid and failure to pay it by Jan.30 will result in problems with housing contract and will take legal actions.
I've already been billed late housing fee twice and I honestly don't know why this is happening.
I emailed the financial aid office and my counselor but they aren't open until monday and I want to fix this as soon as possible but I don't know what the problem is.
Does anyone know why this is happening?
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FAFSA question 45j
I'm still a little confused about the amount of money that I paid on my son's behalf. I know what I spent but don't know what I should include. Do I not include tuition? He lived on campus and had a meal plan should I include those?
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Cal Grant A question
Hi guys.
I'm currently on my 3rd year at CC. I'm missing two general classes to transfer to a CSU (Speech and Stats). Currently i'm finishing and most likely going to pass speech but will be taking math next semester (spring 2019). Previously I got a notice saying I would be disqualified for calgrant A since I had gone over the time limit or something. I sent an appeal and I guess they approved it but I ended up failing math in the fall so I will need to take it in the the spring to be able to transfer. What will happen to the Cal Grant A since i'm over the time limit? Do I lose it and will never be able to get it? I have a friend in CC who receives cal grant B. Am i able to switch cal grants or am i screwed for going over the time? Thanks.
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What type of scholarship should my child hope to receive?
Applying to Ivy League Schools, Duke, UVA , UNC and MIT.
SAT 1560. Math was 800. ACT 36. SAT test scores Math and Chemistry 800 and World History 790
National Merit Semifinalist
Ranked 1st in class of 475
GPA 4.75 taking all AP classes. Has A plus in every class for 4 yrs
Captain of sports team. All state.
Numerous volunteer activities
Single middle class parent
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Merged: Pell grant for longer than 12 semesters?
This discussion has been merged.
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What percentage of Pell Grant with 8 units?
Hello everyone,
I have a question regarding Pell Grants. If I drop a 4 unit class and I'm left with 3 classes totalling 8 units, what percentage of the Pell Grant would I be eligible to receive? 75%? 50%? Currently, with 12 units I am eligible to receive a 100% Pell Grant. Thank you.
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EFC appeal - worth it?
Hi all, so as expected our EFC is stratospheric -- literally half of our gross income, more like 80% of our net. (This is because of an LLC that we are part owners in that has a big market value, but is not liquid at all - it's a farm.)
I'm wondering about whether it's worth it to file an appeal, just to be eligible for a subsidized loan, instead of just an unsubsidized loan. I have no idea what the threshold is for such a distinction. Even if we met it, I'm not sure that the amount of money we'd save would be worth the effort.
I was reading the ed.gov site and it actually says there that only ~$3.5k out of the $5.5k for freshmen (and proportionately the same, going along) is even allowed to be a subsidized loan.
So, for all the sturm und drang I could put myself through in appealing, can anyone tell me what amount of $$ I'm actually looking at saving?
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