So something strange occurred to me this year that did not happen previous years. I was denied federal loans. Nothing has changed as far as work, expect that I made less in 2015 than I did in previous years. I have the same dependents. I am also still an in state student. The only major change was the banded tuition that my school has provided for our students. Yet, I was denied federal loans, even though my scholarships, and state grants do not cover all of my financial need. They have also underestimated my off-campus living expenses for this year. I went and spoke to a counselor and they informed me that they will review it again, but it will take another 4-6 weeks. Which is not one, but 2 late fees if they use all 6 weeks. Now I’m just ranting. The real question is, has anybody ever experienced this? If so, how did you get the situation fixed, assuming that you did?
have you exceeded the maximum in federal loans? Did you answer any questions in a way that would disqualify you (that you were convicted of a drug charge)? Did you fail to make satisfactory academic progress?
Federal loans max out at about $27,500 total.
How many semesters have you been enrolled in college, how many credits do you have towards completing a BA?
@kelsmom what is the aggregate Direct Loan maximum for undergrad students?
To the OP…the school sets a rate for off campus living expenses, and that cost of attendance. If your specific off campus expenses exceed that amount, the school is not going to give you more money because your expenses exceed their COA for off campus students. For example, if your rent happens to be $500 a month more, the school isn’t going to adjust the cost of attendance up because your rent is higher.
How many years have you been in college?
No, it’s $31,000 ($23,000 subsidized). $57,500 for independent undergrads.
Unless OP attended another school previously, OP is starting sophomore year at current school. It is unlikely that he has maxed out