30 Something Student

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So now I am in the thick of the financial aid roller coaster with filling out forms and applying for loans.

The loans that I applied for a called Stafford loans and are government guaranteed loans through private lenders. I requested mine through Wachovia bank. I have also qualified for a small Pel grant which will help. I am going to try and pay for my books as I go along so that those do not get financed.

Unfortunately I have been selected for “verification” of my income tax info by the Department of Education. They say that 40% of applicants get selected for verification so I guess I am one of the lucky ones. I think it probably had to do with the fact that I am claiming 7 dependents this year on my taxes (self, wife, 3 kids, and 2 in-laws). I think that would raises eyebrows for anyone. I am just hoping that doesn’t set me up for an audit later down the road with the IRS.

Also, I had a good run of luck finding out that my employer does have tuition reimbursement. It is not widely publicized and I only found out by seeing a reimbursement form that someone had left at the printer. I was not going to ask but now I know that you should always ask because you never know. The way it works is that they give me money after I complete a class/semester and then I have to stay with the company at least 1 year after they gave me the money. It’s cool free money.

So putting it all together I should not need to put any money out of pocket while going part time (other then books if I want). I still do not have enough to go full time without getting private loans but I do not want to get those if I don’t have to. As I enter my sophomore and later years the loans are for more and more money so full time should not be an issue then.

I turn in my final aid paperwork today and wait to see if they want anything else for the verification process.

Technorati: DeVry, College, School, Financial Aid, Student Loans