Did loan limits increase?

Paying for College
1

<p>I have not seen it mentioned in any news articles but am wondering if Stafford unsub limits went up. The bill has the following

[quote]
INCREASE STUDENT LOAN LIMITS. (a) AMENDMENTS.—Section 428H(d) of the Higher Education Act of 1965 (20 U.S.C. 1078-8(d)) is amended— (1) in paragraph (3)— (A) in subparagraph (A), by striking ‘‘$2,000’’ and inserting ‘‘$4,000’’; and (B) in subparagraph (B), by striking ‘‘$31,000’’ and inserting ‘‘$39,000’’; and

[/quote]
</p>

<p>The current additional unsub is $2000 and the cumulative Stafford is $31,000 so it sounds like they might be talking about the Stafford loan? But I have not seen this mentioned anywhere.</p>

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<p>[FinAid</a> | Loans | Student Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Student Loans - Finaid)</p>

<p>I think that was for the adjustments last year. That 31K is on the finaid website as the aggregate</p>

<p>I <em>think</em> the 2K to 4K may be the amount extra in unsubsidized students whose parents were denied a Plus loan can take out each year</p>

3

<p>But the bill says “striking ‘‘$31,000’’ and inserting ‘‘$39,000” which is why I was thinking it may be a change in the Stafford. It is hard to understand these bills because instead of saying what something is now they are all amendments to previous bills.</p>

<p>$4k is the current extra a student can get on top of the $5500 if their parent is turned down for a PLUS loan.</p>

4

<p>gotta link? I want to see what you are looking at</p>

5

<p>[House</a> Democrats 1/23/09 Bill Text: Page 192](<a href=“http://readthestimulus.org/index.php?doc=hr1_text_0123&page=192]House”>http://readthestimulus.org/index.php?doc=hr1_text_0123&page=192)</p>

<p>I can’t find the actual bill but this is where i found that excerpt. On the other hand I have never been able to find where it says the Pell will be $5350 either (the thing I can find says $4860). This excerpt may have been from before the changes.</p>

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<p>I can’t find a more official document, but I think that might have ended up on the cutting room floor
[Stimulus</a> to provide state $3.8B - News](<a href=“http://media.www.diamondbackonline.com/media/storage/paper873/news/2009/02/17/News/Stimulus.To.Provide.State.3.8b-3633258.shtml]Stimulus”>http://media.www.diamondbackonline.com/media/storage/paper873/news/2009/02/17/News/Stimulus.To.Provide.State.3.8b-3633258.shtml)</p>

<p>The measure also excludes a provision in the original House bill that would allow for a $2,000 increase in annual borrowing limits on unsubsidized Stafford Loans for undergraduates.</p>

<p>edit: found something, it doesn’t mention anything about increase in stafford limits <a href=“http://www.whitehouse.gov/assets/documents/Recovery_Act_Education_2-17.pdf[/url]”>http://www.whitehouse.gov/assets/documents/Recovery_Act_Education_2-17.pdf&lt;/a&gt; I also read somewhere else that Work Study got more funding</p>

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<p>From your link it does look like it was cut from the bill. I had not realized until I looked for a link that I was reading part of the original bill. I am surprised I can’t find the text of the final bill anywhere. I could find it the other day but can’t now.</p>

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<p>happy reading
[ARRA:</a> Public Review](<a href=“http://www.whitehouse.gov/the_press_office/ARRA_public_review/]ARRA:”>http://www.whitehouse.gov/the_press_office/ARRA_public_review/)</p>

<p>The American Recovery and Reinvestment Act of 2009</p>

<p>this is the new website where you can follow the $$$ [Home</a> | Recovery.gov](<a href=“http://www.recovery.gov/]Home”>http://www.recovery.gov/)</p>

9

<p>BTW - it’s an extra $4000 unsub for PLUS denial for fresh/soph. Jr/sr get an extra $5k.</p>