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Are student loan amounts determined by the cost of tuition and expenses of a chosen school or is there a standardized rate for all students?
Now this is a complicated question.
The Stafford Loan has maximums of $3,600 for freshman/sophomore $5,200 junior/senior standing (if I recall correctly - if I'm in correct it's +/- a few hundred dollars)
Now in order for you to qualify for the maximum on a Stafford, it is based on what the University has determined the 'need' is for you to be a student. This dollar amount in theory covers residence, computer, books, etc.
On many occasions - this number is very high. For example at my University (state school), I paid approx 500 a credit hour. So roughly speaking 4 classes to stay full time was approx $2,000. The University's determined need was around $20,000 a semester. So it would be very rare for the loan ceiling be prevented by the University's 'need'
Now in regards to Parent PLUS or other 'private' loans - that is determined by your credit. Just as you would on many loans they qualify you for a maximum (or your parents in the PLUS case). The downside of private loans is that the potential for interest to be higher, stricter payment terms, etc.
At the point of private loans your maximum would be what you qualified for vs. the school's determination of your need.
I'm sure in most occasions - the bank providing the private loan would have a lower dollar amount, in which would be your maximum.
What else can I help you with?
Small amounts of money for incidental expenses?
Some companies have a petty cash fund to be used for incidental expenses. The petty cash fund might pay for expenses such as postage stamps or gas for a company vehicle.
How can I effectively budget for non-recurring expenses?
To effectively budget for non-recurring expenses, you should identify and list all upcoming one-time costs, estimate their amounts, and allocate a portion of your income each month to a separate savings account or category specifically for these expenses. This way, you can be prepared and avoid financial strain when these expenses arise.
How can I properly categorize and track expenses using the mint split transaction feature?
To properly categorize and track expenses using the Mint split transaction feature, you can divide a single transaction into multiple categories. This allows you to allocate different amounts to various expense categories within a single transaction entry. This feature helps you track and manage your expenses more accurately by providing a detailed breakdown of where your money is being spent.
How should students pay for monthly expense?
Debit Card
How can one determine capital gains?
Capital gains can be determined by subtracting the original purchase price of an asset from the selling price of that asset. The difference between the two amounts is the capital gain.
What amounts are not included in gross margins?
Operating expenses.
What is form 1098 P?
Form 1098-P is a tax form used by educational institutions to report qualified tuition and related expenses paid by students. It provides information about the payments made for qualified expenses, which can help students or their parents claim education-related tax benefits. This form is typically issued to students by their educational institutions and is used to report amounts for the tax year.
are pell grants offered on an as need basis?
Pell grants are offered to students on an as needed basis. The amounts given are decided based on a standardized formula. There is a maximum dollar amount that will be given for educational purposes.
What is the difference between expenses and expenditure in accounting?
Expenses are those amounts the benefits of which have already taken by company while expenditures are those amounts the benefits of which will be taken in future
What is a word for small amounts of incidental expenses starting with pet?
Small amounts of incidental expenses are paid from a "petty" cash fund. Petty begins with the letters pet.
What the difference between expenses and prepaid expenses?
Expenses are those amounts the benefit of which is already taken by business while prepaid expenses are advance payments for those expenses which company will incur in future.
What are expenses on the income statement?
expenses are those amounts the benefit of which has already taken by company in normal operations of business.
What does the income statement show amounts for?
revenues, gains, expenses and losses.
What are Small amounts of money for incidental expenses?
umm i think it is insurance coverage
Small amounts of money for incidental expenses?
Some companies have a petty cash fund to be used for incidental expenses. The petty cash fund might pay for expenses such as postage stamps or gas for a company vehicle.
Is Green Giant vegetables or any of the manufacturers of vegetables standardized?
Green Giant like other manufacturers buy vegetables from large commercial farms. These farms grow large amounts of standardized vegetable varieties.
What is an effective method for evaluating a cost center?
Cost centers generate expenses only. A comparison of the actual expenses with the flexible budget amounts allowed at that level is the most effective.
