- Joined
- Jan 23, 2016
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Hey everyone,
I am an upcoming dental student who got the award of 85k for my loan in the summer from my school. After I moved to the area and finalized everything in the summer in June, and accepted my award, I also accepted the additional award in August, In September FAFSA denied my grad plus loan (45k) out of the 85k right now just during my orientation before my first day of class. The reason for denial was that I had a collection of hospital bills from 5 years ago which means I had an adverse credit history. Therefore I was qualified for only 40K which is not even enough to cover the basic tuition
I asked my dental school financial aid department and they were not able to assist me because I had to wait for an appeal hearing from FAFSA extenuating circumstances hearing. I was told this process is not guaranteed and it can take from 1 week up to 2 months and they may need me to resolve all of my bill settlements before they handle the grad plus loan after further review. I currently don't have money to pay my old medical bills as I had to go to emergency when I was an undergrad student.
They suggested borrowing from a private lender but I don't have strong credit history since I was a student all my life and didn't have a stable job. They also suggested I can still get the grad plus loan but I would have to get a cosigner/endorser for my loan approval. My parents don't have employment and I don't want them to struggle further financially as I already had past student loans.
At this moment I am not sure what to do. I feel lonely here and not sure what I am doing. Last year I left another dental program due to some reasons and I was fortunate to apply again and got in. If I already knew they would deny me I would have not come here to sign my apartment contract and everything. I currently don't have money and I am also considering leaving my new dental program as I am unable to make a payment but I don't know if there might be some options to help me in this situation. I would highly appreciate any advice.
I am an upcoming dental student who got the award of 85k for my loan in the summer from my school. After I moved to the area and finalized everything in the summer in June, and accepted my award, I also accepted the additional award in August, In September FAFSA denied my grad plus loan (45k) out of the 85k right now just during my orientation before my first day of class. The reason for denial was that I had a collection of hospital bills from 5 years ago which means I had an adverse credit history. Therefore I was qualified for only 40K which is not even enough to cover the basic tuition
I asked my dental school financial aid department and they were not able to assist me because I had to wait for an appeal hearing from FAFSA extenuating circumstances hearing. I was told this process is not guaranteed and it can take from 1 week up to 2 months and they may need me to resolve all of my bill settlements before they handle the grad plus loan after further review. I currently don't have money to pay my old medical bills as I had to go to emergency when I was an undergrad student.
They suggested borrowing from a private lender but I don't have strong credit history since I was a student all my life and didn't have a stable job. They also suggested I can still get the grad plus loan but I would have to get a cosigner/endorser for my loan approval. My parents don't have employment and I don't want them to struggle further financially as I already had past student loans.
At this moment I am not sure what to do. I feel lonely here and not sure what I am doing. Last year I left another dental program due to some reasons and I was fortunate to apply again and got in. If I already knew they would deny me I would have not come here to sign my apartment contract and everything. I currently don't have money and I am also considering leaving my new dental program as I am unable to make a payment but I don't know if there might be some options to help me in this situation. I would highly appreciate any advice.
