<p>I have received my financial aid award package and, luckily, I am receiving quite a bit of financial aid, but would like to avoid the loans. I have 5,169 dollars of unmet eligibility and 3,173 of EFC. I also have received one scholarship of 3,100 dollars, which is subtracted, from my unmet eligibility. So with unmet and EFC I have 5,242 dollars of out of pocket expenses. There is a possibility I still may receive more scholarships but when speaking to the financial aid office they said the scholarships are taken off from unmet money and if I have excess funds after that they will deduct their university tuition grant. My question is, is there any way for them to lower the amount of loans or deduct from my EFC instead? In my financial aid package, I am asked to accept 5,700 dollars worth in loans, which are the Federal Perkins and Direct Subsidized loan. My goal would be to avoid loans at least for my freshmen year.
Thank you for any advice</p>
<p>deduct from EFC no....they will deduct it from the loan portion.</p>
<p>From what I've seen, the EFC is almost impossible to chip away at. Any awards you receive will go towards loans, self-help, etc....after those, it goes towards lowering the amount the university gave you in aid/grants.</p>
<p>I know, it kind of makes searching for more scholarships less attractive.</p>
<p>So after unmet eligibility it is deducted from loans? I will have to talk to someone else in the financial aid office because the woman I spoke to made it seem as if it is deducted from the University grant before loans. In addition, can someone give me advice on the two particular loans I am asking to take? Is the interest ridiculous? Are 5,000 dollars + a lot to take for one year?</p>
<p>each school has different policies for how ourside scholarship money is treated -- your school may very well lower their grants before they reduce the loans. You need to find out what their exact policy is.</p>