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Student Finance Amounts

Lisa Said:

Moving out! But will student finance help?!?

We Answered:

When you move out you should update your FAFSA application online, although you may not be entitled to any further grant assistance if you are still a dependent.

If you are able to move into college accommodation you may receive help to pay for these costs directly through your college. If not then your best bet would be to see if you could apply for extra money on your existing student loans to cover this new expense.

May i suggest that you consider sharing accommodation with other students. his way you would be able to share the costs of living, thus, reducing your overall accommodation expenses.

More information about student housing grants can be found here…

Tracey Said:

Leaving university, what will happen with student loan?

We Answered:

I'm not sure I totally understand your question, but I'll try to help the best I can.

You are leaving the university before the end of the semester? First, if you were awarded any grants, you will probably have to pay those back.

You will also owe whatever student loans you were awarded. Let's say you got $4000 for this 2009 fall semester in student loans. They probably applied what you needed toward your tuition, and sent you a check for the difference to use for books and housing. You will owe all of the money (ex. $4000) you received or used in loans.

I hope this made sense. Good luck.

June Said:

What happens if I take out a loan and just never ever pay it back? (Student finance)?

We Answered:

Anyone can hire a repo company to recover bad debt. Your credit will be ruined, which will make it close to impossible to borrow money in the future (no car, no house, no credit cards, etc.). It would be a tough life and you will probably be sorry. But, who knows? If you plan on going to mexico and never returning, then yeah, best of luck.

The maximum for student loans vary depending on need. But you never get too much because it works by semester so it's not like they will give you enough to survive all 4 years.

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