I have applied to CSU Fullerton (incoming freshman) and well here’s what I got for financial aid:
Federal Pell Grant: $5,775.00
State University Grant: $5,472.00
Cal Grant B Access Grant Award: $1,648.00
Fed Direct Loan Subsidized 1: $3,073.00
Am I able or eligible to take out a Stafford Unsubsidized Loan because apparently it wasn’t given to me when I got my award letter.
From what I can tell from their website, http://fullerton.edu/financialaid/dloan/loanmax_direct.htm
The max is $5,500 (dependent student) and from what I can tell I took out $3,073.00 on subsidized so my question is can I take out a Stafford Unsubsidized Loan even though I wasn’t offered. Other question is am I able to take out a certain amount of the Unsubsidized Loan or do I have to max out to $5,500.
I’m planning to get a part-time job but I think it won’t cut it. Sorry if my question seems confusing, I’m not really familiar with loans yet. I just want to verify before calling the financial office with such a confusing quesiton…
The total of the Stafford loan is $5500, which includes the subsidized and unsubbed, so you’d only have ~$2400 remaining. However, what is the cost of attendance at your school? That may be why the full subsidized loan isn’t awarded and why there is no unsubsidized amount - your package may be at the full cost of attendance.
It’s $25,702 based from the financial aid shopping sheet.
That amount is for dooming or living off campus. If you are then yes you can take the rest of the loan as unsubsidized up to 5.500 for freshman year. You will just let your financial aid office know you are seeking the full amount of direct loans. However if you are living with parents, I think you have reached the full amount of aid already. You are at 15,968 which is about the living with parents COA.
Each year you can borrow
total / subsidized
freshman 5,500 / 3,500
sophomore 6,500 / 4,500
jr 7,500 / 5,500
sr 7,500 / 5,500
The aid is exactly the COA for “living with parents,” so no - no additional loans can be borrowed if you are living at home. If you are living on campus or off campus away from parents, you need to contact the aid office to let them know. They will adjust your loans accordingly.