General Question

alh1997's avatar

How can I increase my student loan?

Asked by alh1997 (10points) June 8th, 2017 from iPhone

I live in Illinois, where the current budget impasse is causing a lot of serious issues for college students. I am currently attempting to transfer to a university from a small college (both in IL). I will be taking out loans and other forms of financial aid to cover my costs at the university that I am transferring to. However, with the budget impasse still going, MAP grants have not been disbursed to colleges for the 2016–17 year. I have a few weeks to get my “ducks in a row”, but I am concerned that this will cause issues during my withdrawal process from my current small college. The only money on my account not covered in certainty from this past school year is an estimated $4720 in the form of a MAP grant (this is the total amount from both semesters). When I withdrawl from my current small college, I am under the impression that I will be expected to cover these costs up front since the state has not passed a budget. Additionally, part of my costs for last year were covered by a personal (private) Discover Student loan. This loan was in the amount of $6100, but nearly $2000 was immediately returned because it was not needed, and then I essentially eliminated my savings account in order to pay the amount owed down to $600 (this is the amount that was originally estimated to be my final refund check after MAP grants were disbursed, and is the balance of this loan still as of today.) Essentially, I’m trying to figure out what my options are here. Is there a way to take out a private loan in addition to my anticipated financial aid at my new school this fall to cover the leftover at my old one? Alternatively, is there a way to have my discover private loan increased back up to cover the remaining balance of my current (old) school? Any answers and help would be greatly appreciated!

Observing members: 0 Composing members: 0

4 Answers

RedDeerGuy1's avatar

You can apply for a new student loan in another jurisdiction.

Tropical_Willie's avatar

@RedDeerGuy1 I don’t think that’s how it works. Jurisdiction has to be where @alh1997 is going to school.

johnpowell's avatar

There are people at your school that are paid to deal with this so I suggest talking to them.

We are great at suggesting new pizza toppings but this is a pretty big deal in your life so seek professional help.

Response moderated (Spam)

Answer this question




to answer.

This question is in the General Section. Responses must be helpful and on-topic.

Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
Knowledge Networking @ Fluther