<p>I signed my loan a few weeks ago and today got e-mail saying "Your amount has been reduced from $1500 to $0". Is this because of the cutbacks in funding? </p>
<p>Colleges</a> Foresee Shortfall In Perkins Loan Funds This Year (The Chronicle of Higher Education)</p>
<p>Any chance I can get this back? It's strange how they can offer it, I sign it, and then get an e-mail saying "ummmmm yeah, sorry, you can't have that"</p>
<p>Have you contacted them to ask why you have lost it? If my D were to lose hers because of funding I would expect it to be replaced by a subsidized Stafford loan as she is not maxed out on Stafford loans. Were you offered that as an alternative? If the Perkins was withdrawn because of funding problems and you are not maxed out on subsidized Stafford loans you should be able to get one of those instead. </p>
<p>Let us know what you find out - if you have lost it because of funding issues there are likely to be a lot of people in the same boat.</p>
<p>I called, the answer I got makes sense. I was initially scheduled to graduate in April, but when I changed my graduation date to December, my need was reduced under the $12,500 amount that would qualify me for the award. Not a big deal though, it's only $750 that just gets added to the PLUS loan amount.</p>