<p>Does anyone happen to know if students are eligible for an increase in their Stafford subsidized loan amount if their class standing changes after fall semester? My D has emailed her FA office about this but they're not addressing her question as there are several mix-ups in her awards atm:( She's just finishing her third semester but had credits going in and took summer classes, so now has junior standing. Should she be eligible for the additional $500 in subsidized loans?</p>
<p>Yes, she should be eligible for the additional sub loan - but the whole $1000 (assuming she has that much need), not just $500. </p>
<p>This happens to me every year. I started spring semester so I always change standing mid year. My CC awards me based on fall standing, then I have to go back after fall semester once my fall grades post and I change standing and request the increase. I am transferring to a 4 year U this spring and they told me the same thing. When I applied I was still sophomore standing but once my updated transcript from my CC is sent to them they said to call and ask for the increase to the junior level loan which will be an additional $1,000 sub. You do have to ask for it though, as they do not check mid year.</p>
<p>You can get an increase based on matriculation to the next grade level, but there has to be room in the budget based on that single term. The school determines what the term’s COA is (probably half the annual COA), the 4-month EFC (NOT half the EFC - it’s higher than that), and the total aid for the term. This info is used to determine if there is room for an increase for that term. Sometimes students can’t get the increase, or they can only get a partial increase, or they can get an increase but it’s not sub (or it’s a mix of sub & unsub).</p>
<p>Thanks for that clarification, it never dawned on me that the entire $1K increase would be available! Not sure she has that much need though…one of the things that is messed up is her COA which suddenly seems to have dropped by $4K! I don’t really understand what they’re doing as we have an email stating what her summer COA was (school uses a summer header) and can clearly see the COA for full-time residential students listed on their website. However the FA office is telling her that she only has $650 of loan eligibility for spring semester, beyond the sophomore subsidized Stafford she’s already accepted (she hasn’t taken any unsub loans and took no loans last summer). It’s a pickle…she requested this info several weeks ago and has sent emails since, but no clarification/reconciliation has been made.</p>
<p>Anyway, if she does request junior level loans now, will that reduce the amount of junior loans she can receive for next year or does the limit reset with each new academic year? I’m not sure at what point she’ll have enough credits to be considered a senior but, after next year, it won’t matter as she’ll be considered a grad student.</p>
<p>It resets each year (though must still stay within the cumulative aggregate maximums).</p>
<p>Thanks, swimcatsmom! :)</p>