Finance Questions

Archive for August, 2009

Question: If I get a student loan, will it affect my financial aid and can i use that loan to Finance A Car or buy used?

I mean I do need a reliable car to get back and forth to the college. Could'nt that be considered an educational expense?

Answer: No, they don't consider getting a car a necessity. Also, after you get a car, you'll have to worry about insurance and gas which you can't try to write off as a educational expense.

Your financial aid will more than likely be affected by getting an additional student loan if it is not a federal loan offered through FAFSA. If you get the loan, then your level of need generally goes down. Same goes for getting a scholarship. The financial aid dept is very particular about how much money they give out.

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Question: What things are necessary to transfer my credits to a US 4-year-college (like CUNY)?

I completed 2 semesters (1st yr) in Finance (24 credits) in my country college. I am now an immigrant here in NY, USA. I have:
1. A formal grade sheet from my university finance dept. showing my results of the 2 semesters.
2. Books that I studied during 2 semesters.
3. All highschool results.
4. SSN & Greean Card.
Is that enough? Please someone give me reliable info, specially who studied in a US college for BBA. Thanks.

Answer: Since you are internet savvy, pull up the website for the college. Go to the heading prospective students, they will have a site that tells you what to do to transfer the hours in your field.

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