For those of you who are thinking of going to college, fill out the Federal Financial Aid forms as soon as possible. If the Feds are handing money out, reach out & grab your chunk of it!
Here's an article that could help as well:
But aren't we suppose to be accepted to a college first to fill out a form?
The deadline for 2005-2006 is like June 2006 but if you submit it then, you'll have to front all the costs for that year yourself. I'm pretty sure that they require your financial info well before you get into the school to move things along a lot easier.
Hrm.. I was reading in the website..you have to be an American Resident or eligible non-resident. ...Any idea what an eligible non-resident means? ^^;
If I remember right, I think you put down several choices as to which school you think you'll be attending.Originally Posted by jejuhorse
ooh.. this sounds sweet!..
I'm an american citizen.. But live outside the States.. Can I still apply for it? I'm just about to search for lot of scholarsips now..
If any of you guys have any more tips on where scholarships to be found please inform me... I'm also looking for scholarships in the US as well as Sweden. so any info would help!..
Any other of you that are about to try to get in art school? would be cool to get in touch with you guys!..
I think this is just Federal money meant for US based schools unfortunately. But from the sounds of it, being an American living abroad has to have some pretty cool educational aspects to it as well.Originally Posted by M!k3
The first place I'd check for scholarships would be the your counselors whether they're in the high schools or the Financial Aid people at the college you plan on attending.
well.. the thing is that i'm planing on going to college in the states..Originally Posted by Storyboard Dave
In that case, call them up at 1-800-4-FED-AID and I think they should be able to help you out.Originally Posted by M!k3
I looked at the brochure and didn't see anything that would prohibit you from getting any aid unless they require you to a resident of the particular state where the school is located prior to but I doubt it; just because so many people are out-of-state students. I'd like to think that just because you're out of the country I don't see it as a problem.
Now they do require tax forms from you so I don't know if you've got that or not, but again...call them and see if you can get some cash for your schooling. Good luck!!!
Aaahh.. thanks man!! Gonna call them first thing on monday..Originally Posted by Storyboard Dave
If they're tossing cash your way...by all means, snag some of it!!Originally Posted by M!k3
if im an international student, can i still get something like that?
I eat babies!!!
I'm not sure but I think you have to be an American citizen or a non-resident alien of the USA. And I think this financial aid only applies to American schools so if you're applying to an American based school, I would contact their Financial Aid office and see if you can get this.Originally Posted by Bun
There is a cap to the amount of money the Federal Government will allow you to borrow for each school year and a total maximum that can be borrowed over the life of the borrower. Typically private schools cost the most to go to, thus what you can borrow each year is less than the cost of your education, by a great amount. Read and heed... do not borrow more than your cost of education is. You will be paying double what you borrowed back and you cannot file for bankruptcy to avoid repaying it. They will follow you to your grave. It will take a MINIMUM of 10 years to repay your loans at their suggested repayment rate. Most will find that it will take them longer. The longer you take to repay your loans, the more money you fork over. If you are forced to borrow from private sources such as a bank, you will end up with an even heavier loan burden which typically goes into repayment the day you first receive any money. In other words, Federal Loans can defer interest payments on the loans but private loans typically make you pay interest on your loans while you are in school.
Don't be lured by borrowing money... you might think that new computer is a sweet machine, but the price you will end up repaying would make a Ferrari sound cheap. Borrow as little as you can. Look to scholarships FIRST, your own employment SECOND, Federal Loans THIRD, and private loans LAST.
Wise words of advice there pmiles. I have no idea how students in this field manage to deal with the size of their loans once they get out of college nowadays. It's not like we're doctors or lawyers and with a few litigations or surgeries we can pay back a huge chunk of the student loans.
Granted it is hopefully a short term pain that is dealt with. Realize that your education is an investment in yourself. The one slightly good thing about student loan interest is that it is deductible over a period of time- only if you're willing to itemize & do all the long form taxes.
oh! i really have an important question
well...it's about loans though...
probably if i go to an art school i'm going to have to loan money from financial aid and private loan services
and to get a loan from those companies there has to be a co-signer right?
and the thing is that the co-signer are korean citizens(my parents)
would those private companies allow my parents to be the co-signer?
or does the co-signer have to be a u.s. citizen?
oh btw. i'm US citizen
I don't think citizenship matters as long as they can prove they have some sort of steady income or some sort of collateral (a house, a car, etc.). Maybe even a steady credit history is enough. From what I understand about co-signing, it's just their acceptance to assume the loan if you default on it. Are they Korean citizens here on a green card/ resident alien status? I would just ask the loan officers to see who is eligible to sign; I'm sure they've heard it all by now.Originally Posted by jejuhorse
When I applied for Financial Aid many moons ago I wasn't a US citizen either (I had Canadian citizenship & a green card) and the only thing it excluded me from were certain Pell grants that were for US citizens only.
ah...thank you for the information dave
my parents live in korea right now just me and my bro living in US
i hope it will still work right?
I know this might sound silly but what about having your brother co-sign?? Again, it might work depending on what the loan people say.Originally Posted by jejuhorse
A eligible non-resident might mean a US citizen living abroad and plans on coming back stateside for their education. That'd be my guess.Originally Posted by jayneko
oh my brother...i'm not sure though because he's also a student and he doesn't have a settled job...hope everything turns out well though
A co-signer is just a means to secure a loan that you would not otherwise qualify for... as in, the bank thinks that you are a bad risk and that you will not be able to repay the loan. A co-signer takes on a big risk by doing so. Basically, they are just as responsible for the repayment of the loan as the principle signer is. You miss a payment, you both take a hit in your credit rating. In most cases, if your parents still claim you as a dependent on their tax forms, you cannot take a loan out in your own name, it must be done by your parents. Great for you, because the entire debt resides on their heads, bad for them, because you could potentially drop out, leaving them repaying a loan which essentially pays for nothing. If you need a co-signer, odds are, you are at risk for defaulting on the loan... not always the case, but statistics usually pan out in favor of the lender in these cases.
The best scholarships to look at are those offered at the institution you plan to attend. Some offer scholarships which will cover tuition for the first year and others can be renewed on a yearly basis. Some are only offered to incoming freshmen, as in recent high school gradutates. These scholarship applications occur early in the year and everyone wants them. Competition is keen and the basis for the award can be varied. Some are need based, others are academics based. They obviously want the money to go to the one most in need but also the one who has the greatest potential for success. As lame as it may sound, your grades in high school are used as reflection of your potential for academic growth. Great for the straight A students, not so great for those who were academically challenged. Hopefully you will find a scholarship that is based equally on talent as academic performance. Funny as it may sound, those with the most talent generally are not the most academically inclined... however, all schools have their academic requirements, so you can't just gaff off your general education requirements just because they don't involve any artistic creativity.
I was under the impression that scholarships also required citizenship
My father got some but did not really qualify because of his status
Well, that depends. Some scholarships state that international students may apply, so as long as you're in the States with a valid Student Visa, yo can apply for it. So just read the requirements for scholarships to see if you can apply.
Also, here's a link for loans intl. students can take too, as long as there is a US resident cosigning it.
Just remember a loan isn't free. ^^;
I just got my SAR back and it says I'm needed for verification...I just need to know should I contact all the schools to see what I need to send in or will they contact me?
Why take a chance? Be pro-active and contact the schools to be safe.Originally Posted by aan