<p>swimcatsmom, it may vary by school or perhaps my DD's school meant she needed to be full time to receive NON-LOAN FA.</p>
<p>My DD was not awarded FA for her summer study abroad (9 credits) initially because she wasn't considered full time. She made arrangements with one of her profs (at her home school) to do an independent study. At that point, her school considered her full time and she was awarded FA, which luckily included merit $, grant $ and a small Stafford loan.</p>
<p>BUT, I just realized she goes to a school on the qtr system so the 12 qtr credit minimum would equate to less credits on a semester system... My son's semester school allows them to be considered full time with just 3 classes for a semester as long as they complete 7 or 8 classes for the year to maintain satisfactory academic progress. So, if they get fouled up one semester, they get a break but have to make up for it the next semester.</p>
<p>You only have to be enrolled 1/2 time to get full amount of loans. Schools have to publish that info on their website or in their catalog. If the student is beginning a degree-seeking program this summer & it's 2008-09 award year, she can get the full $5500 Stafford (as long as COA is at least $5500). This won't affect next year's loan eligibility, since it will be a new award year.</p>
<p>It is good to keep in mind that loan limits are actually 5500 fr, 6500 soph, 7500 jr/sr. Up to 3500/4500/5500 may be sub DEPENDING ON NEED. Some may get the full amount of sub, some partial amount of sub, some no sub --- but all will get a total of the 5500/6500/7500 (as long as the COA is not exceeded) --- the mix of sub/unsub just varies. Yes, if parent applies for PLUS & is turned down, fr/soph can borrow additional 4000 unsub, jr/sr extra 5000 unsub (as long as COA is not exceeded). If the parent expects to be turned down for PLUS but gets approved, there is no option to receive the additional unsub.</p>
<p>Perkins is not available at all schools & is not available to all students at a school that has it. It is to be used for the neediest students.</p>
<p>Schools award all possible student aid before awarding a PLUS loan. However, if a parent would prefer to borrow more PLUS rather than having the child borrow a Stafford loan, he can request that --- but once COA is met, there will be no Stafford eligibility remaining. For example, say Johnny's COA is $15,000. His EFC is $16,000. He has no "need" for a sub loan, so only unsub is awarded. Johnny is a freshman. His award may look like this: $4000 university merit scholarship, $5500 unsub Stafford, $5500 PLUS. Johnny's mom & dad choose to borrow a PLUS rather than have Johnny borrow a student loan (that wouldn't be my suggestion, but I see it happening). Mom & dad request to borrow $10,0000 PLUS - to do this, they must ask the school to reduce Johnny's unsub eligibility. Later in the year, Johnny comes to the financial aid office to ask for his $5500 unsub Stafford. He can only borrow $1000, because his aid is $4000 merit scholarship+10,000 PLUS loan=$14,000 & $15,000-$14,000=1,000.</p>
<p>Kelsmom - a question about the freshman/soph limits etc. I am back in school and started in Spring. I was awarded almost the full amount of sub Stafford for the spring semester. For simplicities sake let's say I got the full $3500. Does that mean I am not eligible for any subsidized Stafford for the fall semester as I will still be a freshman hours wise? I will not be technically a sophomore till the spring. I am a bit confused about how that works when it comes to the various limits if you start mid year.</p>
<p>You can get a freshman award more than once. Once a new aid year begins, your annual eligibility begins all over again. If you progress to sophomore midyear, you can request the extra $1000 sub.</p>
<p>Oh good. That's a relief. I have been kind of worried about it and couldn't figure it out. So in all likelihood they would probably award it like a $3500 sub for the year, give me the half - $1750 - in the fall, then I would get the 2nd 1/2 in the Spring and have to go back and ask for the additional $1000 in the spring. Good to know. </p>
<p>It is so great that you are willing to answer questions on CC when I know you are probably swamped with financial aid stuff right now at work. Thank you so much.</p>
<p>Swimcatsmom, it's unusual for you not to know the answer to a FA question!!</p>
<p>I will add a caveat to my response to your question. There are schools that use a borrower-based-year for aid. Your school is not one, because they awarded more than 1/2 of your annual eligibility in the term - so I know that they are in the final term of the award year. But for those students who may be in a school with a BBY, your award year might not actually re-start in the fall ... you might stay in a spring/fall year for financial aid. I don't know any schools that award this way, but I do know that some do - so I want to point it out, in case - it's always good to check, if you aren't sure.</p>
<p>:eek: They need a smiley to indicate 'my head is head spinning' when it comes to differing financial aid rules at different schools!</p>
<p>I do understand a good bit of it. But this was new to me and I couldn't find a good explanation anywhere. I kind of hoped that what you explained would be the case, I was definitely not sure.</p>