Can someone help me w/ my FAFSA questions???

Question

Okay, Im working on filling out my fafsa form. I will be attending a technical college and getting my LPN, I am considered a dependant so I will need all of my parents info. My question is as long as everything is filled out correctly am I gauranteed to recieve aid? and if so about how much and what all will it cover? I wanted to take out a loan so there wouldn't be any what if's and all of that but everywhere I turned it looked like I would have to fill out a fafsa to even get a loan so...I was wanting answers from people who may be or have been in my situation and maybe talk to me about it because I am a control freak and I hate feeling like things are out of my control...lol so a little help would be really appreciated! thanx in advance

Jessie

Answer 1

How much it covers depends a great deal on how expensive the school is.  Attend a private "for-profit" school and it won't cover much.  Attend a cheap community college in state and it may cover everything and even give you money left over.  Also be aware that the term "Financial Aid" also can and usually does refer to student loans (which have to be paid back).  So even if it does "cover everything" you will eventually have to start making payments on those loans.

How much you get to borrow depends on your enrollment status and how expensive your school is.  Usually as a freshman attending full time you are allowed to borrow up to 3500 a  year in federal Stafford loans.  It could be more or less depending on the school.  (Some technical schools don't even do loans.)  Here is a good book to help answer more in depth questions.  Good luck.

Answer 2

You should be eligible for student loans.

Once you file your FAFSA and it is signed and processed the school will get it and put together an award letter. Your SAR DOES NOT have any award information on it at all. Only the financial aid office at your school will be able to tell you what you can get. There are limits on loans depending on what year you are. You can see these limits here:

http://www.finaid.org/loans/historicalli...

Remember that this is just for the stafford loan. There is tons of other aid out there. There is the Perkins loan as well.

If you are considered to have huge financial need, you might be eligible for the Pell Grant, FSEOG grant, or other grants.

Your school might have other financial aid options available like campus based aid or state aid.

Your school should be able to tell you what you are eligible a minimum of 2 weeks AFTER they get your SAR.

Answer 3

It depends. Normally when you do the FASA online you can usually get your SAR report within a day or so. The SAR Report will have the amount you are eligible for (look on the last page). Usually you have to take the report and copies of your tax returns to your financial aid office to finish the details such as how much you want to borrow for the school year.