How does financial aid as a visiting student work?
You should talk with the financial aid office at your home school. It all depends on whether the scholarship at your home school is transferable for a semester somewhere else. If not, you may be able to receive federal aid through your home school's financial aid office if you have filed a FAFSA.
Here is a scenario: Say you are getting married March 2007 and want to apply fro financial Jan 2007. You can file your fafsa as a single person because the fafsa requires you to stipulate what your income, household status, at this point. Once you get married then you will need to report that on Jan 2008.
Now, if you are considered a dependent student, meaning, you are below the age of 24, have no children, not a vet, not going to grad school; you will need your parents information to file the fafsa. If you are considered an independent student, then you will file your own taxes.
Financial aid award will be determined on household income, people in the household, etc. The bad thing about financial aid is that you must maintain a good academic progress. Good thing you will get financial aid to pay for classes.
How do I get financial aid for my son if I also get financial aid?
You both will still have to complete the FAFSA separately. Your FAFSA will just contain your income and tax information/savings, while your son's FAFSA will contain yours and his. So, his EFC will most likely be different than yours.
You both will be answering a couple of questions the same: how many in the household and of those how many attending college.
You can get a rough idea of what the EFC for both of you will be by using this calculator: http://www.finaid.org/calculators/quickefc.phtml
The financial aid you both may receive will be different if you both are attending different schools. Schools use the COA (Cost of Attendance) in conjunction with the EFC to determine a student's financial aid. So the need may be different. No one here can really tell you for sure since it depends on what the COA is.
Talk to a financial aid officer at your school and/or the school your son is/will be attending for more information. Good luck!
How much financial aid can you borrow up to before you can be denied any more?
Yes, there are limits on the amounts you can borrow per year and the amounts you can borrow in your lifetime. I'm attaching a Dept of Education publication. Look in the back. They depend on if you are considered independent or dependent student.
it depends...is this a grant, a loan, what? a grant can be paid back if you fail to pass your classes or complete the semester. Loan definitely needs to be paid back, scholarship is similar to a grant.
This is the amount you can earn through an on-campus job, that can either be applied to your bill or kept by you. Federal Work-Study is a grant program from the federal government that reimburses schools for money spent employing certain student workers for teh purpose of helping them pay for their education. When I was in school, the cap was $1500 per semester. The money is paid through the payroll system of the university and if you need to apply it to your bill, you can cash it and go pay your tuition bill.
You apply for the entire cost....If you (EFC) your estimated family contribution is less than $4,000 considering the cost of Colleges in Central America, you should cover everything.
If I were you, and have contacts at that institution I called them and ask first for their advice and previous experiences with international students, Be sure they will help.
I believe as long as you paid the loan back and got it pulled out of default, you should be OK to receive financial aid now. Here is what the FAFSA website says:
Who is eligible to receive Federal Student Aid?
To be eligible to receive federal student aid, you must meet certain requirements. You must:
* Be a U.S. citizen or eligible non-citizen
* Have a valid Social Security number (unless you're from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau)
* Comply with Selective Service registration, if required (see www.sss.gov for more information)
* Have a high school diploma or a General Education Development (GED) Certificate or pass an approved ability-to-benefit (ATB) test
* Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs
* You must not owe a refund on a federal grant or be in default on a federal student loan
* You must have financial need (except for unsubsidized Stafford Loans)
* You must not have certain drug convictions