Should I take a student loan?

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RaqibMarvelous
RaqibMarvelous Posts: 47
in Chit-Chat
Here's my current situation: I'm a full-time student living alone, I've been unemployed since January of this year. I've been getting by strictly on financial aid, which is barely enough to get me by. I'm still paying out of state tuition, which is probably the main source of my financial issues.

I currently get the maximum amount I can possibly get from FAFSA, and I've already taken out a loan from them last semester.

I try to apply for as many scholarships as possible on Fastweb.com, but I haven't had any luck yet.

Are there any other grants I can possibly apply for? Or should I just go ahead and take a loan?

Replies

  • Drenched_N_Motivation
    Drenched_N_Motivation Posts: 1,004 Member
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    Is there a Pell grant where you are?
  • TimedEventSystem
    TimedEventSystem Posts: 60
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    From what I understand, you can take the Pell Grant, which you don't have to pay back, then you can always apply for any other grants or scholarships that you find you fit the requirements for. I would also look with your state and with the school that you're going to for more options for funding.
  • Bahet
    Bahet Posts: 1,254 Member
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    Transfer to a school in your home state and get a roommate. You're only 20 so unless your parents don't make much of anything either you won't get a grant.
  • macpatti
    macpatti Posts: 4,280 Member
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    You'd only get a Pell Grant if it was needed, based on income. If your choice is to drop out or get a student loan, then get a student loan. Sallie Mae has decent repayment programs. Finish school now!!! Good luck to you!
  • Melanie_RS
    Melanie_RS Posts: 417 Member
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    it depends on your major. what is it?

    science or tech major I'd say yes.

    liberal arts degree, I'd say no.
  • Hezzietiger1
    Hezzietiger1 Posts: 1,256 Member
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    I wouldn't be in school right now if I didn't have a student loan. I work full time. I don't qualify for any financial aid. I have a lot of bills... rent, cell, insurance, electric, water, gas, groceries, credit cards, car, etc. Student loan = necessary for my education.

    Just remember you have to pay it back.
  • Hezzietiger1
    Hezzietiger1 Posts: 1,256 Member
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    why not get a job? You can work and go to school full time.
  • DesignGuy
    DesignGuy Posts: 457 Member
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    If you have no other option, I'd say yes. It beats getting no education. And hey, they can't repo your degree. :)
  • bunnylvr
    bunnylvr Posts: 78
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    Why don't you go to your schools financial aid department and speak to someone who knows what they are talking about?
  • smaugish
    smaugish Posts: 244 Member
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    Why don't you go to your schools financial aid department and speak to someone who knows what they are talking about?

    This.

    I can't really give you any other advice, as I'm in England and here (unless your parents are loaded) it's pretty much a given that everyone will take out a loan. But, advising you to speak to someone in the finance office of your college was what I was ging to say!
  • newcs
    newcs Posts: 717 Member
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    Why don't you go to your schools financial aid department and speak to someone who knows what they are talking about?

    ^^This. And if the FAFSA is using your parents' info but they're not supporting you (I don't know your situation but this was mine), see if they can take that into account. I had to sign some stuff saying that I was financially independent from my parents and it helped me to get a better aid package. I still worked 3-4 jobs at all times in college to be able to afford it though and knew that it was a wise decision as I went into a high demand career field.
  • IrishChik
    IrishChik Posts: 464 Member
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    I've been in college off and on since 1997. Now I am finally at the end of my Master's degree.

    If you filled out FAFSA and were qualified for a Pell Grant your Fin. Aid Rep would have told you that and it would have been on your award letter. They take those to apply to your tuition first before loans. A lot of schools (mine included) have reduced their Pell Grant amount and the eligibility has changed. So if your parents make decent money, you probably don't qualify.

    I would suggest going to the financial aid department and speaking with a specialist that can further help you. That's what they are there for.
  • MilanaLong
    MilanaLong Posts: 2
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    It is better not to take out student loan
  • rudarbe
    rudarbe Posts: 164 Member
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    take out a loan, you gotta do what you gotta do!

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