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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask Me About Student Loans!
 
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RusteJuxx
Jul 14, 2001

College Slice
How can I work the EFC?

I made just a little bit over $14,000 this year. I have about $3,000 in my checking account because I've done everything I could to try and save money to be able to pay for half a semester of college without loans.

Last year I only made 6K so I got everything but now it seems like I'm going to get drat near nothing. The EFC I keep coming up with is around $3,000. How the gently caress am I expected to pay $3,000 a year when I only make $14,000? I was going to have to pay $4,000 from loans anyways because I made too much to get anything from Ohio anymore but now I'm going to have to pay for all but $1,000 covered by the PELL?

I'm 24, filed for independent last year and will this year.

Am I screwed?
Should I just work a lot less and only make like $7,000 a year so I can actually get aid? This is bullshit. I can barely make it now. I live at home with my mom still. She's only making enough to claim a little less than $10,000 this year. Should I say she's a dependent to get the auto zero?

RusteJuxx fucked around with this message at 22:49 on Jan 6, 2007

* # ¿ Jan 6, 2007 22:46
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# ¿ Apr 28, 2024 13:17
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RusteJuxx
Jul 14, 2001

College Slice

Jugg posted:

I will be turning 24 this year and just got done with my FAFSA as an independent. I am a 4th year senior and was wondering what kind of money is going to be offered my way. Last year as a dependent I got the $5,500 max on a subsidized loan.

You said as an independent I will be able to get more money, how much more? Please tell me that after 3 years of being broke and overburdened I might actually get some free grant money out of the government. Like a Pell Grant?

Edit: Ohh yeah FAFSA basically spewed out that my EFC was under $600. My Gross income for the year was under $9,000
Just from my personal experience, you should get a good deal of money now. With 13,000 last year (EFC of 3400 I believe) I was offered $980 per semester for a Pell, $2,000 per semester for a SMART grant (depending on your major you might be able to get this as well), ~400 from the State in grants and then full amounts for the subsidized and Stafford loans.

For last year, when I only had ~$7,000 (O EFC), I received the full Pell grant, full State grant and full subsidized loans.

These are both as Independent. You should be pretty good and if you have a, to the government, high tech degree program the SMART grant helps a lot.

* # ¿ Aug 11, 2007 18:35
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask Me About Student Loans!