Cost of living

[blackspade]

I would be resuming this fall. I got federal loans in the exact amount of my tuition for a year. I know taking private loans for living expenses, insurance etc may be a very bad idea. My question is should I let the school know that I need more money than what's provided, to cover my living expenses? Is it possible for the financial aid department to adjust/increase the amount provided to a student like in my case. 

 

NB: I accepted this federal loans since March and I didn't indicate that the amount won't be sufficient for me.

[AliB]

Speak with the financial counselors with your program.  They should have information and guidance.  e.g., if you are in a masters program, there are GradPlus loans you apply for, up to the amount of COL your program has established.  

[MT2PA]

There is still time to change your request amount.  Your school probably has specific forms to fill out to indicate you need more financial aid.

 

Personally I found it less of a hassle (as did most if not all of my classmates) to just do all my loans via the govt instead of some federal some private.  It also makes it easier to consolidate, refinance, and qualify for (hopefully still existing) repayment programs.  Also many of the private loans I found had variable interest rates as opposed to the fixed federal rates (which at the very least offers some consistency in your borrowing/accrual).

[MusicalPA]

Talk to the financial aid dept. Be able to show proof(bank/credit card statements) that your COL exceeds what they are willing to give you. My husband is in PA school right now. I'm a stay at home mom with 4 kids. We needed an increase(pretty obvious). We maxed out for the Stafford and they gave us as much as they were comfortable giving for the Grad PLUS, then we had to get a private loan(fixed through Discover) for the remainder of what we needed.