Pedro Said:

Question about Student Loans and Student Aid?

We Answered:

The US federal government is far and away the number one source for student financial aid. More than 2/3 of all US college students receive one or more forms of financial aid from the US Department of Education, and that aid adds up to tens of billions of dollars every year.

The ONLY way to apply for federal student aid is by completing the Free Application for Federal Student Aid, better known as the FAFSA.

Because the FAFSA form is so ubiquitous, most states and colleges rely on that exact same information to determine who is eligible for state aid and institutional aid. Some schools ask for additional information - many of these schools use the CSS-Financial Aid PROFILE application, in addition to the FAFSA form.

Though technically you might not need to complete the FAFSA to apply for private educational loans, the financial aid office is required to certify your financial need to all educational lenders, so it's highly likely that your school would require you to complete the FAFSA even if you were electing not to apply for federal, state and institutional financial aid.

There really aren't any good reasons not to apply for federal financial aid, as the federal forms of aid are the most numerous, the most available, and the most attractive forms of aid. The federal government's student loan programs, the Stafford and the Perkins Loans, are far cheaper and easier to get than any other educational loans. Stafford and Perkins loans have low, fixed interest rates, and do not require a credit check or a cosigner, while private educational loans are generally high-rate variable interest loans that are rarely available to student applicants without a cosigner.

Completing the FAFSA is not a requirement to admission for any US college or university, but you would be hard-pressed to any significant financial aid without taking that route.

If you need more information about the federal aid program, I highly recommend the US Department of Education booklet that I've linked below - it's called "Funding Education Beyond High School: The Guide to Federal Student Aid", and it explains the entire student aid system, including scholarships, private educational loans, and the entire federal aid program.

Good luck.

Ken Said:

How do I cancel my financial aid and student loans?

We Answered:

Go to the relevant UOP website - I think they have multiple sites for their various "campuses" - and look for their policy and procedures on withdrawing from classes. By withdrawing, you will effectively cancel your financial aid. If you received a Pell grant, UOP would receive the money directly and would have to return it because you aren't a student. Any loans you accepted would not be disbursed because you will have no bill for them to be applied to, so you will have borrowed nothing and owe nothing. Depending on the fine print, you may owe some amount to UOP (and possibly a loan origination fee), but it will be trivial compared to their usurious tuition.

As you may have guessed, I think you're absolutely doing the right thing.

Beverly Said:

How much money can I expect to get in federal student aid loans?

We Answered:

its better for you to try an online loan.i think that the below website will help you to find the right solution.