Didn't offer even unsubsidized federal loans

This has been nagging me for a few days. A friend was gripping (again) about their DD not getting any financial aid. I usually ignore it since they make far above any qualifying limits, but this time, they mentioned not even getting offered any federal loans.I would guess they make in the ballpark of $200,000 to $220,000/year. I thought everyone could get at least the unsubsidized loans. Am I wrong?

Did they file FAFSA, and list that particular school?

Yes, they filled FAFSA. They said they weren’t offered the loans at any of the 9 or so schools she was accepted to.

They should be able to get unsubsidized Direct Student Loans (as long as the school is accredited and participates, which most do), assuming everything else is in order (DD has a SS#, is a citizen, etc.). Have them call the fin aid office(s).

@kelsmom @BelknapPoint @thumper1

I figured they should be able to call and get it, but wanted to be sure before I suggested that. Would there be a reason they didn’t offer it? I am going to assume they weren’t showing any “financial need” after subtracting scholarships and EFC.

Say COA was $70,000, scholarships $30,000 and EFC was $45,000.

$70,000-30,000 =$40,000

EFC $45,000 > $40,000 thus they didn’t offer loans?

Would that be it? But they could still ask for the loans, correct?

Maybe the schools don’t package loans in their financial aid packages for anyone…so they were nit offered.

Your friend can call and ask to get the unsubsidized Direct Loan…that’s assuming her cost of attendance isn’t being covered by some merit award.

She can get them. Just call the school(s). Some many not have issued their need based aid (including loans) yet; they release them when RD is released.

Schools that pledge to meet 100% need without loans will not include them, but students can borrow them if they ask. Other schools, in an effort to keep borrowing to a minimum, will not include them … but students who ask can borrow. Finally, some schools do not participate in federal loan programs (typically community colleges & colleges whose loan default rates are too high).