Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
 Have you already filled out a FAFSA? If not, do it right away. That will determine your eligibilty for federal financial aid programs.
When you get your Student Aid Report (results of the FAFSA), go to the financial aid office and ask for an adjustment due to "special circumstances" -- because you no longer have the job you held last year and will have lower income. If you do go to school full time and don't get another job, you will probably need a special circumstances adjustment for next year too. 
FYI...You can get financial aid as a part time student too.
The best loans are Subsidized loans, which means the government pays the interest on them while you are in school. These are "need-based" loans and your need will be determined by the FAFSA 

This person would be too late FASFA. The deadline was july 6ish. Will have to wait until next year.

Second, if this person is able to support themselves on their severence package and working full-time during the semester, they do not qualify for "special circumstances". They will have to go to their old employer, ask for them to write the dates of employment on letterhead.
Then the applicant has to write a letter explaining why they don't have a job, how they are supporting themselves and dates of employment.
Only then, is it at the descresion of the college to decide if it is a good enough reason to grant funds to this future student.

I know because I have gone through it before.

Julie
Print the post  

Announcements

Paying For School Guide
Trying to Tackle Tuition? The Motley Fool's Guide to Paying for School will help you fight those rising education costs.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.