If you qualify for a Pel Grant, can you still take Stafford loans out o top of that?

Paying for College
1

<p>I will most likely qualify for a Pell Grant after my income adjustment.</p>

<p>However, I will need loans to make ends meet beyond the Pell Grant. </p>

<p>If I am awarded a Pell Grant, may I still max out my Perkins and Stafford loans on top of the grant?</p>

2

<p>Out of personal experience yes you can. Before the Veterans Affairs started paying for my education I was going to get a federal pell grant, federal SEOG (grant), subsidized FFELP loan, and a unsubsidized FFELP loan.</p>

3

<p>Yes, they are separate program with very different eligibility criteria. You can, and many do, have both grants and loans. But, you can’t take loans in excess of your financial need (and would, obviously, want to accept any scholarships or grants before you take loans). So, if Cost of Attendance = $10,000 and they give you a $5,000 Pell Grant, you have a maximum need of $5,000, assuming no other financial aid was awarded. The school could not certify any loans in excess of $5,000 unless they increased your COA first. </p>

<p>If you are Pell eligible, you are likely eligible for state grants as well as should research these too. You can get more details about student aid, grants, and loans here:</p>

<p><a href=“http://studentaid.ed.gov/students/attachments/siteresources/Grant_Programs_Fact_Sheet_04_2009.pdf[/url]”>http://studentaid.ed.gov/students/attachments/siteresources/Grant_Programs_Fact_Sheet_04_2009.pdf&lt;/a&gt;&lt;/p&gt;

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