can financial aid pay for your bills while attending school? (costs, nurse)
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I have a house and cannot stand my job another minute and I was wondering if its possible to back to school full time and being about to take out loans or financial aide to pay my bills
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Some financial aid such as student loans are checks made out to you, so they can be spent on whatever you want. I know people that qualified for student loans but didn't need the money, so invested it in high-yield Tbills and after graduation had a tidy little profit to use for down payment on a house after finding a good job.
Some financial aid such as student loans are checks made out to you, so they can be spent on whatever you want. I know people that qualified for student loans but didn't need the money, so invested it in high-yield Tbills and after graduation had a tidy little profit to use for down payment on a house after finding a good job.
I have 10,000 in savings or more and I want to attend a community college so I can become a EMT or if I change my mind I was to be a nurse assistant..
Most EMT classes are part time and take about eight or so weeks. There is no reason you can't work during this time period. I hope you understand EMTs are not well paid. Do you want to be an EMT or an EMT paramedic?
Some financial aid such as student loans are checks made out to you, so they can be spent on whatever you want. I know people that qualified for student loans but didn't need the money, so invested it in high-yield Tbills and after graduation had a tidy little profit to use for down payment on a house after finding a good job.
Yes, it can, but do you really want to pay 5-15% interest on your rent and electric bill? I would not do it unless absolutely necessary, as you are going to find yourself with a large student loan payment when you graduate.
Legally you are using student loan money to pay your bills and investing the savings that would otherwise pay for tuition/a mortgage, etc. That is what I did...
Nothing illegal about it. You just have to be clear that it is your savings that is invested (even if the student loans allow you to spend less of your savings). Is it a technicality? Absolutely, but it is a pretty good one.
I have a house and cannot stand my job another minute and I was wondering if its possible to back to school full time and being about to take out loans or financial aide to pay my bills
Yes, all financial money that exceeds the costs of attendance (that is: tuition and fees) is given to the student. There are, however, some gross misunderstandings about financial aid, in particular loans. First off, as a homeowner, being full-time employed, and having $10K in savings, you can forget about any type of grants. It is not so much that you are a home owner or work full time, it is that you have $10K in savings. So you are left with loans...which are financial aid.
If you go the Federal route, you will have to report your yearly earnings, mortgage, savings, etc., then a report is developed showing what you are eligible for. The school gets a copy of this report, too, than from that decides what they want to give you. And the two dollar amounts do not have to match up. In fact, what the school decides to give you could be significantly less. With that, there is no way you could pay tuition and your bills with Federal loans alone. You simply will not get enough money. So, that leaves private loans, which should give you enough to cover bills.
Quote:
Originally Posted by Hemlock140
Some financial aid such as student loans are checks made out to you, so they can be spent on whatever you want. I know people that qualified for student loans but didn't need the money, so invested it in high-yield Tbills and after graduation had a tidy little profit to use for down payment on a house after finding a good job.
Financial aid awards go directly to the school these days to prevent fraud (that is, "students" who enroll primarily in community college, receive financial aid, then drop out as soon as the checks come in).
If you mean the "refund" amount, then yes, they are made out to the student.
Also, did your friends use some of that loot to pay off the loans?
Quote:
Originally Posted by Teddy52
and then people complain that they are burdened with student loans after spending financial aid on something other than college cost.
No sympathy from me for people crying about their huge debt !
I never whined about my debt to anyone...and I did use a good chunk of it for living expenses.
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