<p>Currently I am dependent student, whose parents aren't eligible for the PLUS LOAN. Under these particular circumstances, according to the chart on this page( Student</a> Aid on the Web ), I am eligible for an increased loan max of 57,500. I have currently reached my loan max of 31,000, and I am need of additional aid if possible. I have been trying to argue my point to the individuals at the financial aid office, but they are quick to refute. Perhaps this is a complete misconception and or misunderstanding on my end. What do you guys think?</p>
<p>What do you mean they are not eligible for a PLUS loan? If a parent applies for a PLUS loan and is denied because of bad credit, then the student is eligible for an additional $4000 (or $5000 for 3rd year and over students) in direct student loans. But the parents must apply and be denied.</p>
<p>They were denied because of bad credit, And i received the additional loans of 5000 dollars. But my question is more so on the loan max that I get as a dependent student whose parents didn’t qualify for the PARENT PLUS LOAN.</p>
<p>You got the extra $5000? That is all the additional you are eligible for in a year (as a third year or up student) when your parent is turned down for the PLUS loan. </p>
<p>The maximum you referred to in your first post is the aggregate (cumulative ) limit. You can’t get it all in a year. A freshman or sophomore student can get an additional $4000 a year when the parent is turned down for a PLUS. A third year or higher student can get an additional $5000 a year.</p>
<p>I was allowed a maxiumum of $2000 dollars worth of students loans intially because I had reached my limit of $31,000 in student loans. After my parents were denied the plus loan, they gave me an additional $5000 dollars. So in total I received a $7000 dollars worth of student loans. I was hoping that my student loan aggregate limit would increase 57,500(since parents got denied for plus loan), so I could take out 12,500 for the school year…But according to that chart, it seems like i fall under the restrictions of the second column. Im not entirely sure…</p>
<p>Do you receive any other types of financial aid/scholarships and do you have additional unmet need? When are you graduating and have you received increased loans in prior years due to Parent PLUS loan denials? I would send kelsmom, who until recently was a financial aid advisor, a PM and ask for her thoughts on what may be going on. Afaik, schools can’t award federal aid in excess of the cost of attendance and they can, at their discretion, refuse to certify federal loans for individual students because they are being measured by their default rates and face penalties if those rates exceed certain percentages. </p>
<p>The problem with much of the FA info that’s out there in “quick look” form seems to be the details that aren’t given. The FA office has to follow myriad regulations that the Dept of Ed puts out which are based on the way Congress enacts the laws which govern student aid. This is the relevant chapter of ED’s manual for FA professionals for this year…take a look at page 3-86:</p>
<p>Did your parents actually get denied for the PLUS? If you are at your 31k, and if they are denied the PLUS, you DO get to borrow the full annual loan amount available to an independent student at your grade level (as long as this doesn’t bring your total of all sub & unsub, including any previously borrowed unsub due to PLUS denials, to more than $57,500). So if you are a senior who has borrowed $31,000 already … and if your parents are denied a PLUS … you can borrow $12,500 unsub, all “unsubsidized loan due to parent PLUS denial.”</p>
<p>Yes, this IS true (I have awarded this way more than once & know the regs).</p>
<p>I just noticed that you did get $2000 this year for your loans. So you would get $10,500 in unsub due to PLUS denial. I will see if I can find a link to the regulation for you.</p>
<p>Thank you so much! I have been trying to explain this situation to my financial aid counselor, but she wont see me in person, and only contact thru email. I dont know what other options, to exercise in order to help her with this. I am in desperate need of this loan in order to reduce stress on my mother and myself. What do you think I should do? I also attend the University of California: Irvine…btw</p>
<p>My understanding is that the UC’s have cut way back on staff in financial aid due to budget issues. It’s possible that the counselor is not well-versed in regulations. To be honest, it is not very common for students to be in your situation & some counselors have not dealt with it before. If I were you, I would ask to speak with a manager, and I would explain the situation to that person. Just keep pushing until you get someone who understands, as you are correct.</p>
<p>So I sent my financial aid counselor an email, 2 days ago… explaining my situation. She has yet to respond. Anyways, she probably doesnt like me much. I feel like running into the financial aid office, and demanding some answers would be slightly excessive.</p>