Hi everyone,
So my parents and I submitted the 2016-2017 FAFSA to my university over the summertime. For whatever reason our application was flagged for verification which didn’t finish until this Monday some 2 1/2 months later. Upon them finalizing my award package I have a grant and a loan which are now listed on my account, however the Parent Plus loan that we use is not listed. I also noticed that my subsidized student loan offer went up $1,000 from $4,500 to $5,500. This is making me nervous because I have read that in years past you can be offered more student loan money if your parents are denied the Parent Plus loan.
I don’t see why we would be denied when the application said approved and my financial aid advisor told me that it was listed as one of my awards and would show up once my verification and package was complete but now that it is complete I’m worried about why it hasn’t shown up yet. I plan to speak with them in the morning after class but I’m just curious if anyone has any insight as to what could be happening?
Thank you all.
Your subsidized loan may have gone up because you are no longer a sophomore and are now a junior. If your parents are denied a Plus loan, you can get $4000-$5000 more, but they are unsubsidized loans, not subsidized.
Parent Plus loans are not usually listed on the official financial aid portal, but may have been listed on the financial aid estimate to show you a way to finance the bill. If you want the Plus loan, contact the school and ask them how you proceed to get the Plus loan amount.
The 4500 to 5500 means you went from being a sophomore to a junior.
If your parents are denied PLUS, you’re eligible for up to 4k more. However, they have to apply and be denied first.
In may be that your package is just in transition from one aid package to another. Just call in the morning.