Subsidized loans are only available to students who have financial need. If you don’t have need, your loans are unsubsidized.
In addition, the subsidized loans are reduced in amount by $2000 a year from the totals I posted above. There is a limit on how much can be awarded in subsidized loans.
For this poster, we have no idea what their finances are. For all we know, their calculated family contribution exceeds the cost of attendance.
Ha ha I wish our contribution exceeded the cost of attendance. 
Pick up the phone tomorrow and call. Make sure your kid has checked his spam folder and his student portal. Then call the financial aid office. See what they say.
Also, do you have a lot of equity in your home? I think Syracuse is a college that counts home equity as a non-protected asset, so that may be impacting your financial aid with them.
Have you run the Net Price Calculator for Syracuse yet?
He checked portal and spam nothing. Calling in am. Thanks again
Student loans also have a 1% origination fee. Parent plus loans have a 4.2% origination fee - money you will never recover.
You might get a better rate and have the student responsible by borrowing from a private lender. Look at SoFi, Discovery or others. However, the terms and benefits will not be the same. For example, the Plus loan is forgiven if the parent or student dies, but that’s not true of all private loans. If the US govt decides to forgive loans for students, it is the national direct loans they are talking about, not private loans, not Plus loans, not state loans or loans from the colleges themselves.
Just make sure you are comparing apples to apples.
Lots of great unfinished I didn’t know at all. Thanks everyone
Sallie Mae dies have loan forgiveness fir death, many of the smaller lenders don’t. You can get private loans in students names, but unless they have a great annual salary and a high credit score, someone will have to co-sign.
Jumping on to ask a ?-can I “accept”the offer of a loan on my award notification then decide not to actually take it?
Yes.
re: subsidized loans: the subsidized amounts are not as large as the full federal student loan amount (you can google amounts) but interest doesnt start during school.
OK so just to be clear A federal student loan does not accrue any interest and does not require any payment until after graduation.
Only the subsidized portion of the Federal Student loans do not accrue interest while the student is in school. The unsubsidized portion starts accruing interest immediately. Neither require payments until after graduation. Learn more here: Federal Student Aid
@sjmast – your kid can take out a federal student loan no matter what. Interest starts immediately. Sometimes, part of this loan can be a subsidized loan that doesnt accrue interest.
Subsidized loans are not automatic. The college figures out if you qualify. It all has to do with your EFC and cost of attendance.
eg: we have two kids in colleges right now (state schools). While their EFCs are similar (19K each), one has a scholarship that covers tuition. His EFC of 19K is more than the remaining fees & R&B; so this kid was not offered any subsidized loans, but he was offered a normal federal loan.
The other kid’s EFC of 19K is less than the cost of attendance (24K), and she doesn’t have scholarships; so she’s been offered subsidized loans as part of her federal loan offers.
it’s taken awhile for us to figure out how all this works.
And the subsidized loan for a college freshman is $3500 which is a total drop in the bucket on a $75,000 a year college cost.
My child has been offered a package that includees subsidized and unsubsidized loans. The subsidized amount is not at the full allowable amount (he also has a scholarship and work study). I don’t understand why they can’t max out the allowable amount of subsidized loans.
The amount of the subsidized loan is based on the calculated level of need, as compared to the school’s COA. I am sure someone in FA would be happy to explain to you how they calculated the subsidized loan piece.
When my oldest was in college, I don’t think any if the $5500 was subsidized (years ago so I can’t trust my memory). Now a few thousand is since we have 3 in college.
@sjmast, I missed whether you have options that don’t require $240k in loans. Did your child get any affordable acceptances?
I accepted only the subsidized portion of my loans and not the unsubsidized decades ago when I was a student. I was very careful with my money and ended up graduating having the amount in my savings account that I owed the fed govt in my subsidized loan, about $3000. I was advised to pay it off on the recommended schedule, $90/quarter because it had 4% simple interest and savings accounts were providing much higher interest rates.
I would not allow our kids to attend a U where I could only afford to pay year 1 and after that would need $240k+ for years 2-4. That just too much debt for anyone to assume for undergrad degree.