Because, i'm using the loan to get me a decent car to get me to my college everyday. And i cannot afford for my Fafsa results to get any lower..
TRY ME
Favorite Answer
No, but you may be offered more loan money granted you excel in school and your academic classification changes (i.e. freshman, sophomore,jr,etc.)..
jadonnia314
applying for Stafford loans is an automatic process when you have completed the FAFSA, and the school calculates the amount you recieve. What you can do is ask that the maximum amount be applied to your aid package, stating there are still unmet needs concerning your ed. and cost of attendance.
After the max subsidized loan, they will add an unsubsidized Stafford loan onto your budget. If you can substantiate your need, usually then subnit another application at fin aid office.
As long as your awards don't exceed cost of attendance, you will receive the max aid to assist you.
I don't advise you to tell the fin aid officer that you wish to purchase a car for school-that's not an essential school need[public transportation assumed always]
But if you already own a car, and you have past due bills/payments, then with the proper attitude and approach, that may be considered as a true need.
You may want to consider an alternative student loan, with a creditworthy co signer to supplement your attendance and desire, not need, for a car.
Also make sure the new award increases are in place with your aid package.FAFSA doesn't change by accepting a loan;results only change with financial status,income, and dependency status. As an indep. student the awards are larger, if your EFC is lower.
You can receive as many loans that you want, but they can't exceed cost of attendance. There are fed'l limits to loans depending upon the year of college and status, i.e., freshman, sophomore, etc......
just not that
No, it will not effect your fafsa results next year. Loans do not count as income on your fafsa.
Anonymous
Federal student loans many times get offered by utilising inner maximum banks, who many times purchase them at a chit with a clause that the government will step in, in case the guy who has the internal maximum loan defaults. they are going to consistently finally end up in inner maximum banks because of the fact the federal government would not prefer to step into the amassing technique. have faith me they won’t pass there.