<p>I was notified that today that i am getting close to my loan limit, about 4k away from it. I am currently a junior (and will still be one this fall). I was allowed to take out additional loans due to my mother being denied for the plus loan.</p>
<p>If i am understanding this correctly, if my mother were to be denied for the plus loan again, would i be allowed to take out the additional? Or how does this work?</p>
<p>Thanks.</p>
<p>My understanding is that when the parent is turned down for a PLUS loan, the student is eligible for the same loan limit as an independent student. So I would expect your aggregate loan limit to be that of an independent student. I would not expect the additional loan to count toward the limit a dependent student has.</p>
<p>You say you will still be a junior in the fall. Is this because you started in the spring of your first year, or because you are taking longer to complete your degree? You should not be close to your loan limit if you are a Junior on the 4 year track.</p>
<p>The aggregate limits for a dependent student whose parent was not denied a PLUS loan is $31,000. The aggregate limit for a student whose parent was denied a PLUS loan is $57,500. If you are within $4,000 of the $31,000 limit, then it sounds like a mistake and that you are being treated as a student whose parent was not denied the PLUS. If that is the case, you need to talk to your FA department about it and get them to make the necessary corrections. (Talk to an actual FA officer rather than someone lower down the chain. You need someone who understand the rules for situations that are not the everyday run of the mill situations).</p>
<p>If you are within $4,000 of the $57,500 (which I sincerely hope is not the case), then you do have a problem.</p>
<p>I’m still a junior. I have a couple more credits to do before i qualify as a senior. </p>
<p>Ah, okay. So it could be a mistake on their end, I will contact them and figure it out.</p>
<p>I’m about 4k near the 31k limit.</p>