beyondpanic's diary

beyondpanic's Diaryland Diary

-----------------------------------------------------------------------------------------

FAFSA


FAFSA means Free Application for Federal Student Aid - it is a financial form that you have to fill out every year if your kid is in college. I HATE DOING IT, it's an easy form, but I still get sick over it every year. I've never received one cent of Aid or Grants, but they make us fill it out every year anyway. Hub's and my combined salary does not add up to much and yet, we still don't qualify for any college assistance.

So, every year I take out a PLUS loan. A PLUS loan is a federally insured loan a parent receives for a dependent undergraduate student. Parents may borrow up to the cost of education, minus any other financial aid received. The PLUS loan is not based on need. PLUS loans are the parent's loan, not the student's. Repayment begins when the loan is fully disbursed and the first payment on the loan is usually due 60 days after the loan is fully disbursed.

So far, I am in debt for 20,000 and I'm about to take out another $10,000.00 for 2007-2008 school year.

I hate being in debt, but I also refuse to allow my kids to not go to college. College is a must - you really can't do anything without a degree. Neither my husband nor I went to school and my oldest son never completed college. My youngest two will finish if it kills me.

9:45 p.m. - May 02, 2007
1 comments




------------------------------------------------------------------------------

previous - next

latest entry

about me

archives

notes

DiaryLand

contact

random entry




other diaries:

oldgreypoet
boobsinjuriesan
hereinthehills
requiel
imagineomit
fridayplaydate
kitchenlogic
andanotherthing
knuckleheadconv
catsoul
wifemotherme
la-the-sage
chaosdaily
poolagirl
yaketyyak
yankeechick
bitchypoo