New Loan

[Anonymous]

Okay, I will graduate with my Masters in 1 week.  However, I recently found out that I can not become an LCP in my state as I do not have enough credit hours.  I need 8 more classes.  From what I have found I am not able to get federal loans because I will not be a degree seeking student when I get the rest of my credits.  So my question is should I take out a private loan to pay for the classes or just forget about my LCP?  I will work with a non-profit agency upon getting my LCP. 

Does anyone have any suggestions as to who I should use for a private student loan?

[Tazman81]

Unfortunately, I'm not too aware of too many easily giving out Private Student loans.  You can check with Wells Fargo, and Sallie Mae.

Also, have you talked with your college about the additional credits needed?  Can you just hold off on your graduation and take the additional courses that you need and apply that toward your degree so you would still qualify for a federal loan?  I am just a little perplexed that a Masters wouldn't qualify you as having enough credits. 

[Anonymous]

I have spoken with my school and it appears they don't offer any other classes for me to take.  Furthermore, when I complete the FAFSA it states that I am not eligible for any aid as I already have my Bachelor's degree.  I wonder if this is a new change as I have always gotten aid while earning my Masters. 

[laz98]

that's definitely not correct.  both my gf & i are both receiving financial aid after both of us receiving a bachelor's degree.  did they tell you that because you would be enrolled as a non-degree seeking student, since you are just wanting to take the necessary few classes?

[Anonymous]

I know you can get aid when getting your Bachelors; however, my FAFSA states I am not eligible because I have earned my Bachelors. 

[Tazman81]

It is correct that you cannot get a Pell Grant, but you should still qualify for federal student loans while getting your Masters, unless you have already hit the limit for federal student loans.  If it is anything other than that, then it would certainly be news to me and I guess something I would need to look into.

[laz98]

sorry if my post wasn't clear.  we already each have a bachelor's degree, & are still eligible for federal student loans.  just not pell grants, like tazman said.