Hello!
Last year I enrolled at my state school and deferred my enrollment for one year.
My financial aid award last year included a $6000 unsubsidized loan, but today I got my financial aid for the 2018-2019 year and my unsubsidized loan has been reduced to $2000 despite the fact that my financial situation and EFC (0) are the same.
Should I contact my school regarding this or do you think it’s not worth it?
Thanks for your help.
Are you an incoming freshman? If so, your Direct Loan amount would be $5500 total…
$3500 can be subsidized…and the remainder would be unsubsidized…$2000.
Did you receive $3500 in subsidized loans too?
Yes, I’m an incoming freshman; I just took a gap year, but I am an enrolled student.
Last year I got the $3500 in subsidized loans as well as $6000 in unsubsidized loans, that’s why I’m confused.
Are you an independent student? Otherwise…your Direct Loan amount cant exceed $5500. It would be $9500 If you are independent.
Or were some of your loans Perkins Loans?
No, I’m a dependent student.
I just don’t understand how they gave me a $6000 unsub loan last year then.
https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized
Here it says that parents who are unable to obtain PLUS loans (my parents are not able to) qualify for $9500 freshman year. Do you think I should contact my school about this?
I got $1000 in Perkins loans but I believe that they’ve canceled Perkins loans for 2018.
Ah that explains it. Did your parent apply for a Plus Loan this year…again…and get denied…again?
If not, you would not be entitled to the additional $4000 in Direct Loans.
Your parents would need to apply…again for this round…and be denied again…for you to receive this extra money.
Yeah, denied both times.
I guess I should email the financial aid office then.
Yes…call the financial aid office. Are you talking about the 2017-2018…the current year? Or 2018-2019?
2018-2019.
I have not attended school yet, I’m currently on a gap year.
Your parents already applied for the PLUS for 2018-2019? And were denied?
Then yes…contact the financial aid office. They probably don’t have that info.
Ok, thanks for your help!