confused about loans when you're not yet in a program...

[pandoraparabola]

A few weeks ago, I turned to this community for advice because I am switching fields from Gender Studies to Biological Anthropology and wanted to improve myself as a candidate

Comments

[anonymous]

I'm recalling this from undergrad - So take it for what it's worth but... FAFSA doesn't work if you are not enrolled for a certain number of hours/involved in a for degree program. In other words - they won't pay for "for fun" classes, or in this case an extra class to help improve your profile. I think you're right that your best option is to go to the bank and ask for a short term loan, and they might even have something thats student related. Or perhaps try Sallie Mae or one of those type places to seek out some assistance for this. I'm pretty sure it'll have to be a private loan.

[pandoraparabola]

Thanks for your input! I did come across Sallie Mae when I was googling... it is so hard to find reputable information about loans on the internet, so I'm very grateful for responses like yours. :)

[i_like_snow]

Sallie mae is reputable and good but you're right about FAFSA they wont pay if the class doesn't count as part of your degree
you can get a student line of credit from your bank too, try that .

[brittdreams]

You don't need your parent's info once you've already earned a BA, AFAIK. Contact the school's financial aid office and ask them what your options are.

[pandoraparabola]

Thanks, I didn't realize that. I e-mailed the finaid office at Iowa State, where I'm taking the distance learning program, so hopefully I'll hear back soon. Thank you for your input, very much appreciated!

[pandoraparabola]

Hi, sorry for not being clear. The course is with Iowa State, so it is affiliated with an accredited school and I will be earning graduate credits, but I am not formally enrolled in a program.

I did e-mail Iowa State to ask about my options, and I plan to visit my bank and talk about my options as well. Thank you very much for your suggestions! I appreciate it.

[jennifer0246]

generally speaking you need to be taking a certain # of credits and be in a degree program, to qualify for federal aid or federally subsidized loans.

[historychick49]

You're only eligible for student loans if you are enrolled as a full-time (POSSIBLY half-time, but I'm not sure) student in a degree-earning program. You aren't, so you won't be eligible for student loans from the government. Which means, AFAIK, that you don't need to fill out a FAFSA. (To answer your other question on that: if you have graduated with a bachelor's degree and/or are not claimed as a dependent by your parent(s) on their taxes, then you fill out the FAFSA by yourself. Your parents' income doesn't matter.)

I'd say that a bank loan is pretty much your *only* option, yeah. And even then, your bank may not be willing to give you a loan.

[catseyecordelia]

You can be half-time and receive financial aid. Just less financial aid. They scale back the stafford loan accordingly.

The OP would need to declare a desire to finish a degree program that is offered by the school where she wants to take the class. She does not, however, have to actually complete the degree program, so by using that loophole (which is perfectly legal btw) she can get the class paid for via the Stafford Loan program.

[pandoraparabola]

That is an interesting idea, thank you catseyecordelia!

[historychick49]

Gotcha, thanks!

[pandoraparabola]

I visited my bank today and took out a small loan to cover these two classes. The monthly payment I'll be making is very manageable and I feel good about my decision. Thank you everyone for your help!