I'm 24, started community college in Virginia at 22, fall semester 2016. My goal is to finish school with a bachelors by the end of fall semester of 2020. In december 2018, I'll be done with my associate's degree with no debt (tuition is cheap and I get more in grants than tuition costs). In spring of 2019, I'll be transferring to a university with a higher tuition cost.
My living situation might change soon as I don't know if I'm able to live at home soon anymore so I want to plan RIGHT NOW for the future if say I have to move out in 2019 into my own apartment with a roommate.
On my FAFSA email it estimates I'll get $6095 in pell grant and $10,500 in direct stafford loan for the 2018-2019 year. At my community college I get 'federal SEOG, commonwealth grant, and VCCS grant' for about an extra $2500. So basically in grants I get about $8000 a year. At my new university, it'll be around 5k a semester in tuition. So I should need to use around $2000 of the $105000 direct stafford loan to pay for it, and have around $8000 direct stafford loan left over.
I've never 'taken out' student loans so I have no idea how to get the money. If i wanted the $8000 of the direct stafford loan, do I just ask for it in a check? If so, who do I ask to get it? I believe I'd be able to survive on $8000 a year for bills/food if i absolutely HAD to move out and want to be prepared for it.
Submitted June 26, 2018 at 10:52PM by financial9129 https://ift.tt/2tyNzRj
