Some Financial Aide Help.

[absoludicrous]

I will be enrolling in a Junior College this Spring. I want to get my ducks in a row and make sure this goes as smooth as possible. No [censored], I've already been there done that, and I want this time around to be perfect.

I'm 22, make an estimated $16-18k/year, and will be living on my own. My 2006 W2's are very minuscule, as I didn't work very much in '06. Being that I'm under the age of 24, I will still be considered a Dependant student, and my mother/father's income will be used.

Most importantly...

I will be attending a JC and enrolling in a 72 credit (@ $135/credit) program. I want to fund my school through Federal aid as much as they're willing to give. If I can't get it 100% completely funded (probably won't), I'd like to find some other sources of aid so I can cover the remainder of school, and my cost of living for an entire year (12 month lease, at $465/month). As well as have some spending money that I can use to buy food, etc.

I don't want to pay rent month to month, I'd like to pay off my 1 year lease up front so I don't have to worry about a $465/month rental payment. I feel by doing this, I can save that $465, bank it, and pay off my loans when I'm out of school, and financially better off.

Tips, steps, and anything I need to know in order to make this work would be greatly appreciated.

So far I know this:

(not sure if this is the right track)

1. Fafsa
2. See if Fafsa will cover total cost of tuition + cost of living
3. If unable to cover all expenses (tuition + cost of living)apply for loans through Wells Fargo, Sallie Mae, etc.

FWIW, I have about $8k in prior student loans that haven't been payed off, one of which is a Stafford loan, and the other through Sallie Mae.

Thanks.

[tshort]

You should talk to your school's financial aid office as they should know better than any of us.

I highly doubt FASFA will come even close to covering your total costs depending on how much your parents make. 17K is a quite a chunk of change on their for a student.

Also, if you are able to cover your rent on your own, it makes no sense to take out a loan an pay your rent in full.

$5580 / year? You're going to be charged probably $1K in interest while you are in school.

[FlyWf]

Student loans have really low interest rates and the interest is tax deductable. It's possible(depending his tax situation) that he'd be better off borrowing the money and sticking it in a CD or something rather than paying each money.