<p>Helping a transfer student understand their offer (not my child).</p>
<p>Student has over 60 credits transferring from 2 years at a private college.</p>
<p>Transferring to new University for Fall 2014.</p>
<p>The financial offer from new U includes Subsidized and Unsub loan in students name. The sum of these is <$5,500.</p>
<p>Can the student request the unsubsidized be raised to at least $5,500 or $7500 as a student with junior standing?</p>
<p>The student has a 529 Plan + small scholarship + work study + these sub/unsub loans = less than the tuition (not cost of attendance, but tuition). So there is a large gap (which was expected), but the family thought they would receive at least $5500 student loan.</p>
<p>What am I missing?</p>
<p>since the aid is not up to COA, they need to call the FA office and ask for the difference up to 5500</p>
<p>COA = EFC + Financial Aid. Does the school calculate their EFC higher than they expected?</p>
<p>You can get unsubsidized loans up to the federal limit even if that brings aid + EFC above COA. Shouldn’t the student be allowed up to $7500 in loans if transferring in as a junior?</p>
<p>@mathmomvt - My thinking was along the same lines as yours. Then I thought perhaps all credits were not transferring, but then the student Sub + Unsub should still be able to be at least $5,500.</p>
<p>@4kidsdad - Even if the EFC + aid >COA, shouldn’t the student be able to take the max federal loan?</p>
<p>Yes - The family will call the new University. The U will only talk to the student who had finals at his current school today.</p>
<p>The student is probably not verified as being in advanced standing yet — therefore, aid cannot be awarded in excess of the current standing. It’s probably a total of $5500 in loans now. Once the standing is set in the school’s system, the student can request an increase … I say “request” because it most likely will not be offered. Once the package is set, schools don’t usually go back & adjust loans unless requested by the student to do so. Yes, the student can receive the increased amount once the advanced standing is finalized (as long as the total of all aid does not exceed COA).</p>
<p>If current sub/unsub is less than $5500, the school may not package unsub. Some schools only package sub, but will give unsub if the student requests.</p>
<p>Thanks Kelsmom. That sum of sub + unsub is <5500 and both are listed. Student put a call to school. Not a make or break for the family, but I had never seen the amount <5500 before.</p>
<p>Very odd! Let us know if you find out what happened.</p>