My Federal Student Loans dont cover my full tuition cost!?
I filled out my FAFSA earlier this year in preparation of attending the University at Buffalo this fall. I am 18 and was accepted as a transfer student to transfer in at the beginning of my sophomore year (fall 2012). I received today my student aid report from the government and it said that I am eligible for around $5000.00 a year in direct unsubsidized stafford loans, but my yearly tuition cost is going to be more like $16000.00, (I'm living there). I was under the impression that the federal government allowed you to take out as much in loans as you needed, apparently not. My parents will not pay for any of my college, so what do I do? I'm thinking of looking at private student loan companies such as Sallie Mae, but I'm not sure if that's the best course of action. Also can I, say, accept the 5 grand from the federal government AND get a private loan for the difference or is it one or the other? Is there an even better answer? Any input would really help! Lol at he answers I got. Let me elaborate here. SUNY (State University of New York) at Buffalo (UB) is NOT a private school.....der da der. The the first answer guy here....are you dumb? I did my research alone because of the GREAT help I received here. If i get a private student loan I don't have to start paying until after I graduate, as a matter of fact the ONLY difference is it may have a slightly higher interest rate. I can deal with that. As for the suggestion that I get a job, I have two and I'm still maintaining a perfect 4.0 average at my current institution. Suggesting that a full time student pays off an 18k tuition a year by himself is foolish to the point of stupidity. How are you a top contributor? And to the third answerer I understand what you were trying to say, but UB is NOT a private school by any means, and my parents are more than willing to cosign a loan for me on their 150k a year salary. I said they wouldn't pay for any of my college directly, not

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