Exceeded loan amount for undergrad? Will be attending grad school in the fall

Paying for College
1

<p>I filed my FAFSA and received this in my SAR:</p>

<p>"Based upon data provided by the National Student Loan Data System (NSLDS) and your grade level, we have determined that you may have received a total
amount of undergraduate student loans that exceeds the loan limits established for the federal loan programs.</p>

<p>Based upon data provided by the National Student Loan Data System (NSLDS) and your grade level, we have determined that you may have received a total
amount of undergraduate student loans that is close to or equal to the loan limits established for the federal loan programs. Therefore, your eligibility for additional
student loans may be limited."</p>

<p>I called the FAFSA people and they said my subsidized loans were overborrowed (which makes no sense as I borrowed for 2 years after I wasn't eligible for subsidized any longer).</p>

<p>I also did a Direct Loan Consolidation in 2012.</p>

<p>I also cannot get the Federal government or my loan servicer to tell me how much I supposedly overborrowed. I see online you can get a reaffirmation letter to clear the problem. I also see if you have consolidated since you have taken out the loans that serves as a reaffirmation of the debt (because I've signed an agreement to pay the consolidated loan amount).</p>

<p>I'm a bit concerned as I am going to grad school in the UK. I will have 80% of my course fees paid for by a merit scholarship so I won't have to borrow very much...but I still need to borrow.</p>

<p>Insight into this mess?</p>

2

<p>Have you borrowed any subsidized loans since the consolidation? Are all of your sub loans included in the consolidation? If no to the first & yes to the second, you are eligible to borrow because the consolidation is considered to have resolved the overaward. The school has to review and manually approve - aid officers monitor flags for that, but it always helps to call the aid office & discuss the situation with an aid officer.</p>

<p>If you are not sure if any sub loans are owed outside of the consolidation, go to <a href=“http://www.nslds.ed.gov”>www.nslds.ed.gov</a> to find out.</p>

3

<p>No. I graduated in 2010 and all my loans went through a Federal Direct Loan Consolidation in 2012.</p>

<p>I spoke with the US Loan officer at my school in the UK. She said she will look into it but I’m hoping the consolidation leaves me free and clear to borrow for 2014-2015.</p>

4

<p>Yes, the consolidation will clear you. As long as all sub is consolidated, you are considered to have resolved the overaward.</p>

5

<p>Why do they put that info into the SAR? NSDLS shows the loans are consolidated (it shows each year loans were taken and finally shows all loans grouped into a Direct Loan Consolidation). All this does is give me a heart attack! </p>

<p>(And thank you kelsmom. It means a lot to hear someone know enough to say that. :wink: I called the FAFSA customer support line and they were no help only saying “oh it looks like there is an overborrowing on your subsidized loans, you can just call your servicer and pay that off.” Nevermind my servicer holds the consolidated loan and says they don’t know what I’m talking about.)</p>