<p>Hi,
Our EFC will most likely be above the tuition and room & board costs, however my husband decided he will not pay for our sons college. My son will be junior in Fall 2009 and he will have funds for that semester covered from his summer work and some savings. From Spring 2010 our son has to find other ways to pay for school. </p>
<p>He has not applied for FAFSA so far. Will he be eligible to get the full amount of unsubsidized Stafford Loan? Since payment for Spring 2010 is nearing fast what are the steps he needs to do now?</p>
<p>Thanks to anyone who can help.</p>
<p>Unsub loans are available to most students, regardless of EFC. Ultimately, the decision is based on total cost of attendance minus other aid. Even if the EFC is at 99999 (the maximum EFC assigned), your son could be eligible for the unsub loan. It would be best to confirm this with the FA Office (especially if your son is eligible for any grants or scholarships).</p>
<p>I have never seen an instance in 9 years where a student did not receive the Stafford loan as long as they filed the FAFSA.</p>
<p>Scotta,</p>
<p>There are some circumstances that would prevent a student from having Stafford Loan eligibility, such as if they already met the Cost of Attendance with grants and scholarships.</p>
<p>Nikki-</p>
<p>In that case, I doubt anyone would be too concerned about getting a Stafford loan.</p>
<p>Thanks to everyone who replied. I spent hours last night going through the fin aid forum and I am learning a lot.
However, I was not able to find any info on the following, and if someone can shed a light it would be appreciated: Can a student borrow full yearly amount of the unsubsidized Stafford for a Spring semester alone (ie. $7500)?</p>
<p>Scottaa, I have seen several cases of students in programs that cover their entire COA with grants - who berate our office for not “letting” them borrow Stafford loans that they feel they “deserve.” We see some real interesting characters.</p>
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<p>Now that’s just over the top.</p>
<p>I am amazed anew on a regular basis! :)</p>
<p>I would also like to know the answer to this question, as my (to be freshman) son will likely be able to cover his portion of the Stafford amount ($2750) for the first semester from his summer job, but he will probably need the money in the second semester. In this case, would he be able to pass on the Stafford at first and then take out the $2750 for the second semester? Also, if he finds he needs a little additional for the second semester, could he take out more than $2750 (up to $5500)?</p>
<p>TIA,
mom6350</p>
<p>Your son does not have to accept his loan for the first semester. When the 2nd semester rolls around, he can contact the school to request a loan revision - he should do this in advance (during the first term) in order to get everything set in time. He has $5500 sub/unsub eligibility the first year. In the 1st term, he can only get 1/2. If he doesn’t borrow until the 2nd term, he can get more than 1/2 at that time, since it’s an annual max.</p>
<p>Kelsmom,</p>
<p>Thank you so much for your answer. I also want to thank you for your time in replying to other threads here. Your wisdom and experience have been very helpful.</p>
<p>Have a great day!
mom6350</p>
<p>Glad to be of assistance! :)</p>