Financial Aid?

[cookderosa]

Fair enough, but the difference here is just a couple thousand dollars spread out over a year. He's still borrowing too much - even on the comprehensive plan.

Though TESU doesn't make it obvious, you can DECLINE all or part of the loans, it's not an all or nothing - what is in the chart is not required in order to tap into the Pell.

I would recalculate the absolute minimum for the exact courses at a rate of 6 cr per term for just the classes needed. Subtract the Pell $ and see the balance you'd have to cash flow. I would not take the 2 extra TESU classes b/c in addition to the added cost (that you're borrowing) you'll have to buy books and spend 12 more weeks in school instead of working and earning money.

If you only need 6 classes, strike the last quarter and just do 3 quarters for starters. Then at the VERY LEAST scratch the unsubsidized loan- omg never do one of those.

ORIGINAL NUMBERS
Pell Grant 4645.00 1161.00 1162.00 1161.00 1161.00
Direct Subsidized St 4500.00 1125.00 1125.00 1125.00 1125.00
Direct Unsubsidized 6000.00 1500.00 1500.00 1500.00 1500.00

REVISED NUMBERS
Pell Grant 3483.00 1161.00 1162.00 1161.00
Cash or subsidized 3645.00 1215.00 1215.00 1215.00

To cash flow and use the Pell, my math says you need to figure out how to come up with only $100 per week for 36 weeks. I can think of 50 ways to make that happen instead of borrowing - the most obvious is to wait a term before enrolling and stockpile some cash. Put something on ebay, have a yard sale, get mowing your neighbor's lawn and babysit their cat. Trust me, when you graduate debt free, it will be worth the little bit of extra grind I'm suggesting.