When Your Loans Get Declined

Document created by ksugal on Nov 4, 2015
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I am a junior in college and I never really had trouble getting loans or financial aid for school until this year. I was in a time of crisis where if I didn't get my balance paid off I wasn't going to be able to enroll for my spring semester of this year, which with the program that I am studying, meant that I was going to have to go almost a whole more years of school because it only starts in the spring semester of your junior year. I was so stressed out all the time and having anxiety attacks at least twice a day because the private loan company I had always gone through to get my loans finally denied me after my application process was finished. They told me to resubmit another loan with a lower amount requested, and once again, I was denied. I finally had enough and went to seek help from our Student Support Services on campus. With the financial need that I was in they nominated me for the KState Proud award, I wrote a letter to them telling them my financial needs and why I was in such a crisis and they granted me almost everything I needed to cover my balance that financial aid didn't cover. I was so thankful. Also, I was directed to the Equal Opportunity Fund (The EOF Committee) that is in place for students in a huge amount of need or groups that cannot get money from somewhere else, they had granted my proposal and brought it forth to the Student Government, where everyone was willing to pass this bill to help out a student in need. About two weeks later, my dad had received an email from the private loan company telling him that one of my loans had been approved and would be set to my account on a certain date, EOF withdrew their help because my balance on my account was officially 0. I was so thankful that they even considered giving me some money though, knowing that they work on a very limited budget and help out a lot of people on campus. Hopefully, my spring semester I will not have to go through any of this again.

What I had learned thus far is that I should have started saving for college when I was in high school, I have two jobs and live on my own so I know what it is like to be drowning and I just wish I could go back and save/ spend differently.