Cannot Receive Graduate Aid Because I Was Over-Awarded for Undergraduate Work

[sybbie719]

<p>Regarding overpayments:</p>

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If the student fails to repay the overpayment, the school is required to refer the case to the US Department of Education. Failure to repay an overpayment may affect eligibility for further federal student aid, per 34 CFR 668.32(g)(4) and 34 CFR 668.35.</p>

<p>[FinAid</a> | Scholarships | Overaward Regulations](<a href=“http://www.finaid.org/scholarships/overawardregs.phtml]FinAid”>http://www.finaid.org/scholarships/overawardregs.phtml)

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<p>If these adjustments have been made and an overaward still exists for a Stafford Loan borrower, you must withhold and promptly return to the lender or the federal government any funds that have not yet been disbursed to the borrower. If the student is determined to be ineligible for the entire loan
disbursement and the overaward cannot be reduced or eliminated, you must return the entire loan proceeds. Note that Stafford Loan overawards must be repaid before adjusting or canceling campus-based funds
<a href=“http://ifap.ed.gov/sfahandbooks/attachments/0506Vol5Chapter1.PDF[/url]”>http://ifap.ed.gov/sfahandbooks/attachments/0506Vol5Chapter1.PDF&lt;/a&gt;

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<p>this part may help you:</p>

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<p>If a student has inadvertently exceeded the subsidized annual oraggregate loan limit, it may be possible in some cases to eliminate the excess subsidized amount by changing it to an unsubsidized loan. The loan holder will determine whether this is an option.</p>

<p>If a student has consolidated the loan(s) that exceeded the annual or aggregate loan limit, he or she is considered to have made satisfactory arrangements to repay the debt, and no additional action on the part of the student is required.</p>

<p><a href=“http://ifap.ed.gov/sfahandbooks/attachments/0506Vol5Chapter1.PDF[/url]”>http://ifap.ed.gov/sfahandbooks/attachments/0506Vol5Chapter1.PDF&lt;/a&gt;&lt;/p&gt;

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<p>If you are over the limit on subsidized loans see if you can have them changed to unsub loans.</p>

<p>Follow up on your consolidation to find out when it will be completed. When this is done, you should be ok.</p>

<p>Good luck</p>