<p>How does the loan replacement grant work? Is it guaranteed for people below 50k income? What exactly is replaced? (I will be a freshman with 3500 subsidized loans + 2000 unsubsidized loans and about $7000 to pay upfront, rest in grant aid). Do any other colleges do this? Thanks in advance</p>
<p>I have practically the same financial aid package!</p>
<p>There was a discussion on this before. It’s somewhere around this forum.</p>
<p>I’ve searched the Emory forums and found information about the loan cap guarantee, but unfortunately they never discussed how loan replacement grant works in-depth.</p>
<p>The loan replacement grant replaces subsidized loans (Perkins & Stafford). So if you are eligible for both loans your replacement grant will be $7,500 for your freshman year. </p>
<p>If you get the LRG you do not get the Loan Cap Guarantee, LCG, because the Loan Cap Guarantee only covers subsidized loans (which the LRG replaced). </p>
<p>Neither the LRG or LCG covers family EFC or any gap between EFC & COA. </p>
<p>Emory advantage is strictly tied to subsidized federal loans.</p>