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Messages - Sweetpri

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Don't forget about me!  I'm going to Toledo  :)

Financial Aid / Help! What is the Federal Direct Lending Program?
« on: July 24, 2007, 04:50:49 AM »
I applied through T.H.E. for my Stafford, no problems, but I've tried to apply for Grad Plus at T.H.E., Nellie Mae, and AFC but it wont let me - I get this message... 

Your Institution participates in The Federal Direct Lending Program. Although the school you have selected does not participate in the FFELP program, there may be private sources of funding that we can assist you with.

Anyone know what this means?  The main reason I'm so confused (besides the fact that my finaid office is very difficult to get in touch with) is we have a seperate grad plus application to fill out for the school - it's very short, just info, but it had a box to check whether you're using their preferred lender (Nelnet), and under it there is a box to check if you used a different lender where you're supposed to write in the lender code and name.

So confused!  I hope I can get through to the finaid office today!

Financial Aid / Re: GRAD PLUS Questions and Answers 2007
« on: July 24, 2007, 04:31:24 AM »
I started to ask a question about the diff between GradPlus and private but then I googled it and found this chart with the differences.

The Deferment info seems at odds with the repayment info on the Plus loan though...Thoughts? Also, what about "points" neither one discusses points...

Right from the government itself:
"The U.S. Department of Education charges a loan fee of 4% of the principal amount or each Direct PLUS Loan."

loan fee/origination fee = "points"

I know THE (Total Higher Education/, the lender for my GradPLUS loan, acknowledges the fee but then immediately reimburses it upon payment. And The Access Group (, another non-profit lender, pays the fees for you immediately.

It's their way of competing with private lenders who don't have to charge such origination fees (because it's a private loan and not regulated like a GradPLUS loan).


I cant find anything on access group's website about them paying the 3% - does someone have a link, or do they not do this anymore?

So far I've got T.H.E. as the only one I can find that pays the 3% - are there any other lenders that pay the fee?

Congratulations on Southwestern Darlinalexi!!!  I know you really wanted to go there, you must be so excited!!  Yay, you're going to law school, I'm so happy for you!!!   ;D

Thank you!  You inspired me to wait for the right thing; I owe much of this to you :)!

I'm just glad we didnt end up at schools we didnt really want to go to, like John Marshall or Pace!  Hooray!

Financial Aid / Re: I have no idea what I'm doing.
« on: July 22, 2007, 01:22:41 PM »
Graduate plus loans can only apply to tuition.

Stafford loans can be applied to cost of living.

Where did you read that about grad plus loans?  I really thought you could use grad plus for any education-related expenses (rent, textbooks, computer)....

Financial Aid / Re: Student Budget
« on: July 22, 2007, 01:20:33 PM »
There is only so much a school can do for you.  You can do what you want, but I don't know that I would necessarily mortgage your future even more because of child-care issues.  If money is going to be that much of a problem, it might be a better idea to go to school part-time while you continue to work.  You could even take a couple of years, work 2 or 3 jobs, and save money so you will have some extra to supplement what you can get in loans. 

This is what I'm doing - it's not ideal as I really wanted to go to school full time but I just can't afford to live on that I'll be going to school part time and working part time.   

Financial Aid / Re: Student Budget
« on: July 20, 2007, 06:16:51 AM »
Be careful if you're going to lie and find out exactly what they will need - I know that most schools or the lender will require receipts, at least for the computer. 

Financial Aid / Re: I have no idea what I'm doing.
« on: July 20, 2007, 05:14:55 AM »
I'm lost too - but only because of my school.  I wanted to go through THE or Nellie Mae for Grad Plus but they are not set up to process grad plus for University of Toledo (whatever that means).  Getting in touch with my school is so difficult so I'm just waiting for now!  At least I got the stafford out of the way! 
Most places will let you sign the MPN online, or just print it out.  It's much easier.

Financial Aid / Re: Student Budget
« on: July 20, 2007, 05:10:44 AM »
I'm having a similar problem - I can't figure out how I'm going to live on this budget - I think they even take the health insurance out of the student budget (at least my school does).  Here are a couple of places to get student loans from that don't need to be certified through the school - interest & fees probably arent great though and you need either a job or a cosigner.  I hope this helps - good luck to you!

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