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Old 07-26-2012, 04:22 PM   #9
Cirlonde
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Join Date: Aug 2009
Location: Norman, Oklahoma, United States
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Cha Cha, your daughter should still be able to get at least some aid through the Unsubsidized Direct Loans. The unsub loans can be used to cover the EFC (expected family contribution) so they aren't based on need in the same way that Pell and sub loans are. They are also usually at a much better interest rate than a private loan, as well as being in the student's name rather than the parent's. There is a limit to how much you can borrow via unsub loans though, depending on whether a student is a dependent/independent and what their grade level is.

Another recommendation that I'd make (coming from working in a financial aid department at a large university) is to push for at least some scholarship money. It is a myth that there is all this free money out there waiting for you to ask for it, but oftentimes, the squeaky wheel gets the grease. No one really likes the parents that whine and take it to the top, but it gets things done! As long as you're nice but persistent, they may be able to find you $1500-$3000 in scholarship money. I can't tell you how many times we have parents insist on speaking to our director who end up with scholarship money awarded to them just to get them to leave the director alone! So squeak away and see if it gets you anywhere!
-C
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