<p>I got offered money as a “LN Fed Direct Parent PLUS Loan” and “LN Fed StaffordUnsub Direct Ln”</p>
<p>I was wondering if anyone could explain these to me.</p>
<p>I just got the same thing and I’m also wondering what this means…</p>
<p>It looks like you were offered two loans, the Parent Plus (that your parents can take out) and the Unsubsidized Stafford loan (that students can sign for). You’re not obligated to take any loans at all, but if you need them then they’re available to you.</p>
<p>What are the interest rates on these loans?</p>
<p>where did you find this information? Unsubsidized loans have a higher interest rate than subsidized loans. Usually on the financial aid page they will have interest rates for all types of loans. I believe you begin paying these loans off 6 months after you graduate</p>
<p>here is the information you wanted</p>
<p>[Cal</a> Poly Financial Aid - 10/11 Loans](<a href=“http://financialaid.calpoly.edu/_finaid/types_aid/loans_2010.htm]Cal”>http://financialaid.calpoly.edu/_finaid/types_aid/loans_2010.htm)</p>
<p>I got the same thing. Does that mean that this is the only financial aid that I will be offered? If so, then I sure hope that the UCs pull through better than cal poly.</p>
<p>Also, it seems like anybody could be “awarded” these… Right?</p>
<p>I got those too
Are all the scholarships/loans already out on the portal?
Because if so, I’m gonna be disappointed I wasn’t awarded any scholarships…</p>
<p>I don’t think that’s all of it. I know I’m still waiting to see if I got any of the competitive Cal Grants. I checked the Cal Grant site and they say Cal Poly is still processing my application. I think a lot more aid is going to depend on the California budgets so hopefully more will come out closer to summer. I do, however, know that the Pell Grants and a few others were also sent out to students who qualified with the loan offers.</p>
<p>Talked to financial aid today and was told only about 1% of students will get scholarships and they will range from $500-$1500. That is it. There is no money.</p>
<p>Loan offers are made based on FAFSA and expected family contribution (EFC). You’ll only get “aide” (e.g., grants, work study, subsidized loans) if the expected cost of attendance is higher than your EFC. Cost of attendance at a UC is generally higher than Cal Poly, so depending on your EFC, you could receive more aid at a UC than at Cal Poly. For us, the amount of loans offered (unsubsidized) were the same for UCs and CSUs. For students the amount you can borrow is about $2,000 less the first year than the rest of the years.</p>