Beth Said:

Grants and Loans for older college student?

We Answered:

This is a good question and I found myself in a similar situation.

There are scholarships for you out there, as you are what is known as a "nontraditional student" ( http://en.wikipedia.org/wiki/Non-traditi… ) which includes undergrads 26 and up.

You can check out some of these sites to look for available scholarships:
http://www.antshe.org/AwardsandScholarsh… (This site is The Association of Nontraditional Students - good resource)
www.fastweb.com
www.scholarships.com
www.nextstudent.com

There may not be any available now, but check back from time to time. At least fill out your FAFSA ( http://www.fafsa.ed.gov/ ) which is an application for student aid made to the government and they are always giving out grants and low interest loans.

Also, wherever you decide to go to school, check with that particular college to see if they offer scholarships for non-traditional students. In addition to scholarships, many schools offer services to help make your transition back into school a bit easier.

As far as the in state student thing goes, I think you will have to live in the state and work in the state for a year OUT OF SCHOOL, before you can gain residency. To gain in state residency, you normally have to show that you came to the state for a reason other than just going to college. The good thing is, after the year you spend gaining residency, you can go to school as an in state student. I'm not 100% certain that this applies to Maine, but I live and Florida and want to go to school in California, and I will need to do it this way.

Hope this helps!

Claude Said:

EFC for college is 1825, does this mean I MUST pay this much out of my pocket BEFORE grants or loans?

We Answered:

No. This is nothing you have to pay to the school. This is what the federal government feels you should be able to contribute toward your education.

Schools use the EFC in conjunction with the COA (Cost of Attendance) to determine a student's award package. Say your COA is 18000; 18000-1825 = 16175. The 16175 is your "Gross Need".

With an EFC of 1825, if your SAR says you are eligible for Pell, then your Pell award would be $2460 (full time/1230 per semester). 16175 - 2460 = 13715 which is now considered your "Unmet Need". As you are awarded more aid, your Unmet Need goes down.

Your total financial aid package (grants/scholarships/loans) cannot exceed your COA.

Talk to a financial aid officer at your school for more information. Good luck!

Lucille Said:

Grants or loans for college student?

We Answered:

It's unlikely you'll be able to get a federal student loan this late in the year. You'll have a better chance at a private student loan. The rates and fees will be higher, but you're not looking to borrow very much so it may not be so bad. You could try sites like privatestudentlending.com or studentloanconsultants.com to compare the rates and fees between the lenders.

You might look at doing some scholarships, perhaps something through fastweb.com. Although, again, it may be too late for many of those.

Contact the financial aid office at the school you'll be attending to see if they have any scholarships available for which you may still apply. Also check with local non-profit and social organizations like the Lions and Rotary. Many local chapters actually have trouble finding scholarship candidates. Don't forget your local Chambers of Commerce, they can be a great resource in finding businesses that may offer scholarships or paid internships.