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Messages - COmom

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Incoming 1Ls / Re: Official "My Last Day of Work" Thread
« on: August 04, 2005, 02:17:59 PM »
My last day (of having to go into work) was last Friday.  I brought in donuts :) - then they took me out for happy hour and I got smashed.  Drinking on the company's dime - those were the good ol' days.  They are still paying me to work on a contract basis.  I told them I probably couldn't do more than 10 hours a week, they are just happy I agreed to it...

I doubt the school cares where they get their money from.  The max loan amount comes from the govt - Stafford and Perkins are govt loans.  Imagine all schools charging $60K a year for tuition because they know you can borrow unlimited amounts of money from the govt for school.  Not a very good idea for the govt or the students coming out of school with so much debt...

Stafford are guaranteed, provided you aren't going over the cost of attendance at the school.  Basically the COA is the max total amount of money allotted for you for that year for LS.  So if the COA was $30K and you received a scholarship for $10K, stafford loans of $18.5K and a perkins for $6K - one of either the stafford or perkins would be reduced to total $30K (probably the perkins loan though I don't know for sure).  Hope that makes sense.

Financial Aid / Re: How much tuition does financial aid cover ?
« on: July 25, 2005, 11:57:08 AM »
Well the max federal aid you can get each year is $18.5K - so the rest would be loans, scholarships, or out of pocket.

Financial Aid / Re: Where do you find your interest rate?
« on: July 19, 2005, 03:02:11 PM »
When I looked at Nellie Mae it was listed on the promissary note - I also found it on their website.

Q: What is the current interest rate on Nellie Mae's loans?
A: Federal Stafford Loans: Interest rates for the 2004-2005 academic year for loans disbursed after July 1, 1998 are 2.77% during in-school, grace and deferment and 3.37% during repayment. The Annual Variable Rate is 91-day T-bill +1.70% while in school (and +2.3% while in repayment) and is re-set each July 1 and will not exceed 8.25%.
Federal PLUS Loans: Interest Rate for the 2004-2005 academic year for loans disbursed after July 1, 1998 is 4.17%. The Annual Variable Rate is 91-day T-bill +3.10% and is re-set each July 1 and will not exceed 9%.

Nellie Mae Private (EXCEL) Loans: The following are the standard rates for Nellie Mae's private loans. For additional information on any loan, please click on the loan.

Prime Rate as of July 2005 is 6.00%
Student EXCEL Loan
Monthly Variable: Prime + 1.25%
Annual Variable: Prime + 2.25%

EXCEL Grad Loans
Monthly Variable: Prime + 1%
Annual Variable: Prime + 2.25%

EXCEL Education Loan
Monthly Variable: Prime + 1%
Annual Variable: Prime + 2.25%

For some loans, your interest rate may be lower if you attend a preferred school. Check with your financial aid office or Nellie Mae's customer service team (800-FOR-TUITION) to determine your specific interest rate.


I think you only have 60 days to dispute charges in writing - you should check with the credit card company to see if you can even dispute it now - it may not even be possible.  As for getting your friend in trouble - yep I can totally see that happening.  If you dispute you are basically saying that s/he is a criminal that 'stole' your credit card.  The charges could be easily traced back to your friend and regardless if s/he has the money at the time charges could be brought up and your friend could be in big trouble.


Acceptances, Denials, and Waitlists / Re: Accepted off USD's waitlist
« on: July 13, 2005, 11:37:18 AM »
Can you defer for a year?

Financial Aid / Re: Not Great Credit but didn't need a co-signer
« on: July 08, 2005, 01:43:58 PM »
I sure hate loan companies.  I was conditionally approved with a co-borrower, however my co-borrower was denied.  UGH!  After crying for a bit then calling dad (he can't cosign as his debt to income ratio is too high) he suggested grandma - who said ok.  Paperwork is on the way to her - let's hope this one works out or I don't know what to do.

Financial aid office isn't too helpful - the only suggestion was to defer a year.  Keep your fingers crossed for me  :-[

Incoming 1Ls / Re: Legal Dictionary!
« on: July 01, 2005, 10:04:41 AM »
Black's Law Dictionary

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