Fed Financial

can i get enough financial aid for school to help with rent & bills?

i am currently working full time to support myself, but i need to quit in order to go to graduate school full time. I'm afraid i may not get enough financial aid and funding to support myself while in school. i am currently working full time to support myself (rent, bills, etc.). I would like to attend grad school full time so i can focus. I'm afraid I may not find enough funding to get through it without having to work....is it possible?

Public Comments

1. You can, but try to at least work part time--you can pay for it with loans, but you'll have to pay them back eventually.
2. It is doubt-full you'll receive enough to live off of. Most people who've had full time jobs have had enough time to accumulate expenses to go with that full time income. Car, apartment, insurance, electric, water, gas, etc. Unless you are planing on moving into the folks basement, loans won't be enough. Been there, done that.
3. hi. yes, you can. The down fall would be interest rate. Easiest way to explain it, would be like buying a house. Depending on the house; new/old , big /small etc. You might want to borrow additional money for remodeling. Now, the house represents your education. "remodeling" can be represented as "luxuries". With that said, depending on credit score, convictions and the helpful use of dependents you can extend your original loan contract an re-finance to clarify all economical transactions. Don't borrow unless you intend to repay. Its always best to borrow at the exact amount. I suggest to leave that as a last resort. Ask your guardians and loved ones to lend you a hand. Part-time wouldn't hurt either. Good Luck and talk about this particular subject with your Loan Officer or Enrollment Counselor. Precise Information will allow you to decide.
4. This is a pretty standard question. Without spending too much time in a financial aid office, there is plenty you can do get the process started. Start by going to http://www.fafsa.ed.gov/ and filling out the online form for federal student aid. After finding out what you are eligible for in terms of subsidized stafford loans, you can figure out if that is enough to finance your tuition and expenses. In most cases, it isn't. If you find that you need more money then you are offered, you may want to try a private student loan. The best thing to do is compare the different private lenders out there, which can be done at http://www.finaid.org/loans/privatestudentloans.phtml Most of the rates are very similar but do a little research and pick one that you think is best. I would suggest Think Financial. The application process is very quick and easy, and the check is sent directly to you so you can use the money for whatever you want. The limits are much higher with private student loans, up to $40,000 per year. You can find out more information about a Think loan at http://www.thinkfinancial.com . Good Luck.