NetCreditLine.com Daily Credit Line News

Question by Nyaa B: Financial aid??
Im doing a project on the college of my choice,and Im having trouble.
First of all, what’s financial aid??
And second, what type of financial aid does Spelman college offer??

Best answer:

Answer by Found-1
Financial aid is any money received or paid on your behalf for you to go to college. This can include loans, grants, work study and scholarships. This is a good book about the kinds of fin aid. Spelman will have all of these.

What do you think? Answer below!

Question by Miss E: Financial Aid?
If i want to apply for financial aid next year, will they check if i have any in my bank account or if i do have one? (and i dont work..i put the remaining money i got from financial aid into my account)

Best answer:

Answer by nabdullah2001
No they will ask if you’ve worked because you will have to provide tax information from your parents if you’re under 24 and tax papers over 24 and declared an independent from your parents. If you havent filed income taxes in the last tax year so for example if you hadnt worked in 2005 you provide 2004′s tax papers if you worked in that year or 2005′s if you havent worked in 2006. If you havent filed at all you will need to go down to your local IRS office and request a non filer’s statement if you’ve never filed income tax or if you worked and didnt make enough to qualify for income tax-you need to have made $ 3000 in the last year to qualify for income tax if you made less you don’t pay income tax and that’s when you get the non filer’s statement.

Add your own answer in the comments!

Question by freebag: Financial aid?
I’d just found out that I didn’t qualify for financial aid… because of my income which i no longer have. I do have an investment that I can’t touch.. Can i file for financial aid again? or because of my investment that makes me unqualified for it? What else can I do because I have no income at all.. besides working
I’m saying that I don’t work…. so even if I file another form for spring I still won’t qualify?

Best answer:

Answer by bettedaviseyes79
Financial aid is decided by the income you made the year prior to filing for aid. Unfortunately, it’s not going to help if you refile. They’re going to go by what was claimed on your income tax return. It’s a crappy situation, same thing happened to my ex boyfriend, there really wasn’t anything he could do.

Know better? Leave your own answer in the comments!

Question by wombat: financial aid?
i go to a community college right now but i want to transfer to a four year college after this semester.. i have never applied for financial aid but i feel i am going to need it. can i apply for financial aid at my current school and recieve it from the school i transfer to? or do i have to apply seperately? and is it too late if i want to recieve it for the fall 2008 semester?

Best answer:

Answer by jaystubb637
For whatever school you want financial aid for all you have to do is put the ‘school code’ in the correct box on the FAFSA.
Financial aid is transferable as long as you change the school code when you transfer. Since this is how the gov’t knows where to send the money.
You have plenty of time to apply for Fall ’08 semester. Usually if you have it done by June at the latest your fine.

Add your own answer in the comments!

Question by Teresa H: Financial Aid?
im on financial aid for college, and im on 14 credit hours 12 hours is fulltime. i decided to withdrawl from my biology class. just becuz i took my 3rd exam and knew that i did awful and it would ruin my chance of a good gpa. so i didnt plan on dropping until the last minute. so i went from fulltime to 3/4 time. i thought that i would only have to pay for the class that i dropped but they sent me a bill today for 1000$ i dropped two days ago(15th) and on monday im going to call the financial aid office. but whats going to happen? whats going to happen will i have to pay for all my classes or just for the one that i dropped?

Best answer:

Answer by sunshine23511
its hard to say, but you may have to pay back your financial aid. Especially, if there was stipulations on it.

Add your own answer in the comments!

Question by sjkdh: Financial Aid?
I am about to fill out a form (2008-2009 verification worksheet) I live with my boyfriend and our two kids. He pays for everything – i stay home with our kids. Should i just put 0′s where it asks for my income etc? I don’t receive child support and do not work. Will financial aid wonder how i support myself?

Best answer:

Answer by Found-1
Yes, they will. There is a question at the bottom of Worksheet B that says, “Any money paid on your behalf?” or something like that. You need to put something down. Does he pay your car payment, insurance, food etc. Figure out how much that is and list it.

Give your answer to this question below!

Question by Mayor McKim: Financial Aid?
Will financial aid pay for me to go to a out of state college? Id like to go to the University of Portland but I live in WA.

Best answer:

Answer by Tell it like it is
apply

Give your answer to this question below!

Question by Heather N: Financial aid?
Does anyone know how being a guest student works? I am a junior in college but I switched majors a little late and I want to go to medical school so I need to take my Mcats soon. So, I need to take the science courses. I wanted to take them this summer, but I my school does not offer all of the ones I need over the summer. So, I would like to go to another school to take them. Will I be able to apply for financial aid although I am only a guest student at that school?

Best answer:

Answer by photogirl
No. You can only get financial aid from one institution because these are federally funded/backed instruments. You could try a private lender, but I’m still guessing the answer will be no – due to the federal tracking.

Know better? Leave your own answer in the comments!

Question by Scoots: Financial Aid?
My girlfriend just graduated from high school early in January. She scored a 28 on her ACT test. She would like to pursue a degree in nursing, but she can’t afford it obviously on her own. How much will financial aid help her with considering her ACT score?

Best answer:

Answer by Kimber
Congratulations on the ACT. She doesn’t have to do it alone.

First, she needs to decide where she wants to go to school. Then, apply and get accepted. That sounds easy, but may take a little work. The easiest way is to call the school and speak with an enrollment counselor.

Then, fill out the FAFSA. The Free Application for Federal Student Aid. It is what every school requires to begin the financial process.

Chances are she will be eligible for the Pell Grant, depending of course on what her parents make. Beyond that, financial aid counselors may be able to find additional scholarships and grants. But know, Sallie Mae offers loans, subsidized and unsubsized, to most all students. As long as she is enrolled and earning the grades, her loans will not be due for repayment to begin until six months after she graduates from college.

http://www.fafsa.ed.gov/

Use this website to begin the financial aid process. Make sure she includes the school code for the university she will be attending. They need to be able to pull her FAFSA to begin her financial aid. But very important to contact the school financial aid after you complete the FAFSA.

What do you think? Answer below!

Question by Liana Mei: financial aid?
When applying for financial aid is it really beneficial to the student to be claim as a dependent or to claim themselves? Basically, would this be the difference being denied and being accepted for scholarships or loans?
Can anyone lead me to an article or something that says you have to be over 24 to claim not dependent? My sister already did her taxes (she’s my twin, 23) and she says since she wasn’t enrolled in school last year that Dad can’t claim her and she’s already filed her return and gotten her rebate check.

Best answer:

Answer by DesignThis
Financial aid can be tricky sometimes. Now being claimed as dependent can affect if you’ll get financial aid or not. Depending on how much one of your parents make that will determine if you get financial aid, if any.

Now if you’re under 24, you’re pretty much stuck as being claimed as dependent regardless of your living arrangements unless you’re married. (Like me. I’m 23 and married)

Now as for scholarships and loans, Scholarships don’t look at your FAFSA. In fact, it not related to your grants in any way. Feel free to apply to as many scholarships as possible. That way if you are denied financial you’ll have a fall back.

I would recommend staying away from loans if possible. Even though they are deferred while you’re in school they will require payments to be made beginning 6 months after you graduate from school.

I hope this helps. I’ve been dealing with financial aid for years and I’ve helped plenty of my fellow classmates get financial aid and the money that they deserve.

*Cheers*

Know better? Leave your own answer in the comments!