What's next?

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What's next?

Postby ke_kwan » Tue Jul 23, 2013 8:14 am

I went to college a few years back on my parents money and only completed 60% of my classes. The college says I needed 67% to receive my federal financial aid but after some research I found that the Stafford Loans do not require a certain GPA although they have less pay out. The Stafford loan would give me enough money to complete this semester and bring my percentage of completed attempted courses up to the right amount to receive my Pell Grant and Federal Student loans. So, this brought me to the Stafford loan site. I filled out all their forms and it directed me back to the FAFSA website were all the appropriate forms have been filled out already as well but still no loan. What else do I need to do to get a Stafford Loan besides fill out the forms on FAFSA? How do I know if I am ever going to get a loan at all? Why does it feel like I am chasing my tail?
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Re: What's next?

Postby abrightyear » Tue Jul 23, 2013 11:19 am

Just to clarify, you submitted your FAFSA, am I correct?

If so, you should expect to receive your Student Aid Report in several weeks, which will provide you with an estimate for how much the federal government thinks that you are capable of paying for school. Shortly after, you will receive a financial aid letter from your college, indicating exactly how much financial aid you qualify for.

However, going back to the initial statement about minimum GPAs, most colleges do actually require a minimum GPA as part of their Satisfactory Academic Progress (most schools require a minimum GPA of 2.0). Dropping these courses could have a negative impact on your GPA, so try talking to your guidance counselor to see what your current GPA is, and whether this GPA will qualify you for financial aid.
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