HELP! What to do if aid package doesn't arrive in time?

Discussion in 'Financial Aid' started by analu, May 17, 2002.

  1. analu

    analu Senior Member

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    Just found out from my FAO that my financial aid package might not be ready in time for the start of the fall semester!!!!

    Ouch! She looked at me and said, "do you have cash to cover the first semester's tuition?" I was dumb-struck!!! Ummm, yes I do, and by the way, I have this bridge that I'm selling real cheaply...

    Any ideas? I have about half of it now, don't know if I can save up enough for the rest by August <img border="0" title="" alt="[Frown]" src="frown.gif" />
     
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  3. sz

    sz Senior Member

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    My god! ... that's like a nightmare come true.

    Do they have a program where you can pay your tuiton in installments? ... I'd ask for that.
    I guess the other option is to get private loans ...

    I'm afraid I don't have any other suggestions. Good luck with everything ...
     
  4. paean

    paean Senior Member

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    What a terrible situation. My ideas:

    Call the director of admissions and asked if he/she can put some pressure on the financial aid office. Unless the hold up is your fault (like you can't get them your parents' taxes until October) they should be able to figure out how much you are eligible for and at least offer you loans. Admissions wants you there in the fall, they can be a great ally.

    Bug the FAO every day. I really mean every day, (when I need to get another office to send me medical records at my work, calling every day shortens the wait time dramatically.) Get the name of everyone there, and make it very personal. Make them feel sorry for you and really want to go out of their way to help. Be nice, but very persistant.
     
  5. paean

    paean Senior Member

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    Many colleges will waive late fees if the reason your tuition is late is due to financial aid. This will only work if your EFC is less than the standard cost of living in the student budget. Call the registrar's office and ask about their policy. Don't sign up for an installment plan unless you have the money beyond what you will need for living expenses and books.

    Ask if the FAO can process part of your package (like unsubsidized loans) immediately, and wait on the rest.

    Worse case scenerio, tell admissions you will have to defer for a year because of the FAO. That may spur them to help.

    Sorry for the split post. SDN no longer accepts my longer posts.
     
  6. analu

    analu Senior Member

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    I was told by the FAO that the deadline for "priority" aid applications was March 15. Of course, my app was complete EXCEPT for my letter of acceptance, dated May 6. One of the first year coordinators at my med school said that because of my late acceptance into the program, I might unfortunately be "one of those caught in the middle," having to come up with the tuition by August 2 and being reimbursed for it at a later date. No installment program I know of, don't want to defer a year (due to my old age)...I will bug the FAO A LOT, but they told me that the file goes to committee and takes eight weeks for a decision.

    I understand that there are others in the same boat as myself (and not just other med students--the whole university is administered by this office), but it will still be a rough two months.
    Any other suggestions besides borrowing $8000 from a well-off friend of mine?
     

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