Direct student loan disbursement question

I know the limit is $5500 for freshmen and it is normally split between semesters. If you don’t take the loan for fall semester and then later on need the money can you take the full amount for spring semester?

Yes, you can … assuming you qualify. There are some reasons you might not, but if you don’t drop below half time in fall or spring & if you meet Satisfactory Academic Progress, you can receive a disbursement if the full amount in spring (you will qualify because you “could have” received the amount in fall & you are still eligible for aid in spring).

@kelsmom

Any idea why on his financial aid award it shows subsidized loan $3500 and unsubsidized $584? Shouldn’t the unsub be $2000?

He is a full time student in his first semester, has A’s at this point in the semester. The reason he is considering taking the loan is because he had a wreck and totaled his truck last weekend, only liability so a total loss. He still has some money from graduation gifts but not enough, he was looking at taking his loan for this year to give him enough to buy a car.

Maybe that’s the “need” the FA determined. But it doesn’t matter. He can call the FA office and tell them he wants the full amount of the loan. They’ll give it to him.

If all his aid added up to the COA, they’ll reduce the unsubsidized loans first. If you’d rather have work study or some other type of aid reduced, they can make an adjustment.

Work study was not on the award but he applied for a job which was a work study job and got it, that was near the end of October.

That could be it about the COA, he had enough scholarships and grants to cover all of the direct billed costs as well as books and received a refund.

It.sounds like he may have been awarded up to COA. He should talk to a financial aid advisor just to make sure, though. Sometimes when aid gets added or subtracted, the awards might not get repackaged correctly. It’s worth him asking.