Finanacial Aid

  1. I just found out today that I actually owe money to financial aid at my old college from 2003. I had to quit half way through my third semester because of a family situation. Now they are telling me I need to pay $1500 back before I can appy for financial aid at the college i'm about to attend. Tomorrow I have an appointment with financial aid at Ecpi in northern virginia and they were supposed to tell me whether i'm eligable for financial aid or not. I know there are student loans I can take out but the cost is about $24,000 and I can't take out a loan myself because my credit report is horrible due to a friend of mine who decided to get credit cards in my name and go crazy I owe a huge amount of money to collection agencies. I was planning of relying on financial aid and having my parents pay the rest and I could pay them back but I cant possible do that now. Should I go tomorrow for my interview and see what options I have available? If I needed to could I make montly payments to the college myself or would I have to pay the whole $24,000 before I could attend? I'm just a little confused and I don't really want to enroll in Ecpi if I have to pay $24,000 without any help. Besides would I be eligable for financial aid when I pay what I owe back or have I made it impossible for myself?I would really like some advice. I've always wanted to be a nurse and I hope I havent got my hopes up just to find out I cant attend college.
    Thanks

    ~amber~
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  2. 2 Comments

  3. by   Fun2, RN, BSN
    The best thing to do is talk to an advisor about how to handle the situation.

    I think there are some companies out there that will "buy" the note, and let you pay them at a low, student interest rate. This gets you out of default, if I'm correct.

    ...Like I said, it's best to talk to a financial aid advisor. They can tell you about the different companies out there.

    Good luck!
    Quote from poetryeclipse
    I just found out today that I actually owe money to financial aid at my old college from 2003. I had to quit half way through my third semester because of a family situation. Now they are telling me I need to pay $1500 back before I can appy for financial aid at the college i'm about to attend. Tomorrow I have an appointment with financial aid at Ecpi in northern virginia and they were supposed to tell me whether i'm eligable for financial aid or not. I know there are student loans I can take out but the cost is about $24,000 and I can't take out a loan myself because my credit report is horrible due to a friend of mine who decided to get credit cards in my name and go crazy I owe a huge amount of money to collection agencies. I was planning of relying on financial aid and having my parents pay the rest and I could pay them back but I cant possible do that now. Should I go tomorrow for my interview and see what options I have available? If I needed to could I make montly payments to the college myself or would I have to pay the whole $24,000 before I could attend? I'm just a little confused and I don't really want to enroll in Ecpi if I have to pay $24,000 without any help. Besides would I be eligable for financial aid when I pay what I owe back or have I made it impossible for myself?I would really like some advice. I've always wanted to be a nurse and I hope I havent got my hopes up just to find out I cant attend college.
    Thanks

    ~amber~
  4. by   Jessy_RN
    Can you make a payment plan?

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