HPSP and loans

[coreyb]

I assume this to be true, but would like confirmation from someone who is doing it....

Do HPSP students still qualify to receive stafford loans? (for living expenses) I have a wife and 4 boys, and know for certain that the stipend wouldn't be enough to cover our expenses and would need loans to make up the difference.

Thanks in advance!

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[cdreed]

I am not sure about other services, but the AF HPSP regulations state that one cannot accept funds from another federal agency if taking the scholarship.

Check chapter 6.2 of the link below for more details. This is an excerpt from the published AF regs regarding the HPSP.

http://ci.afit.edu/CIM/CIMJ/AFITI 36-101/AFITI36101_Mar02.pdf

Hope this helps.

Cyndi

 

[wenbnn]

I am looking into the situation myself. I will post back when I find out. I am applying for the Army HPSP.

 

[svt boost]

Yes, you can still get loans if you require. Them. I know for a fact cause I have incurred some.

You cannot take loans from federal agencies which incur time debt.

 

[cdreed]

svt boost- thanks for that encouraging info. I was really concerned about how my family was going to survive merely on the stipend.

Can you give me any guidance about applying for funds once the fafsa has been submitted? It seems that everyone I talk to in the AF has no wisdom to offer. I suppose I should just work through the FA office at my school...

Thanks again.
Cyndi

 

[svt boost]

I would suggest you take your FASFA and income information with projected revisions to your schools FA office. They can go over it with you. Believe me, if you need money, you will get it. Just expect things to be tight, and don't buy a BMW anytime soon. That being said, they just offered my money, I don't know what specific loans, but they are Fed unsub staffords.

My wife, baby, and I do things a little different. We manage an apartment building, so we live for free, and she works one day a week while going to school full time. We get about $1400 a month, and are able to afford two car payments, health insurance for her and the baby (mine is covered), nice food, and the occaisonal toy.

Eamon

 

[coreyb]

Thanks for the information! I was beginning to worry/wonder how I would still be able to provide for my family while going to school full time.

 

[svt boost]

Originally posted by coreyb
Thanks for the information! I was beginning to worry/wonder how I would still be able to provide for my family while going to school full time.

Hey, I go to UW in Seattle. Let me know if you are gonna attend there, I can give you the email etc of the finaid person, she is great.

BTW, UW is a really family friendly school. I know people who have kids, and pay for a house mortgage, with student loans.