<p>I received $500 in subsidized loans and and $5000 in unsubsidized loans. But just recently, my subsidized loan has disappeared and my account says I have $5500 in unsubsidized loans. What happened? I contacted my college's financial aid office and the person said I could have possibly declined my subsidized loan by accident and he said he would reinstate it for me. But it's been a couple days and my account hasn't changed.
I also got a small scholarship from my school weeks later after my financial aid was posted. I'm wondering if my scholarship had anything to do with my subsidized loan disappearing.</p>
<p>The small scholarship likely filled your need, so the sub loan is now gone. </p>
<p>What is your EFC? How much does your school cost?</p>
<p>Your small scholarship was probably applied to your self-help aid (the stafford loan)</p>
<p>Or the scholarship may have been applied to your financial need. If you no longer had a financial need, you would no longer be eligible for subsidized loans.</p>
<p>The school’s official financial aid cost of attendance (COA) minus your Expected Family Contribution (EFC) minus all need-based aid (grants, scholarships, work study, Perkins loans) equals your eligibility for a subsidized loan. Either the scholarship was $5000 or your EFC increased after the initial packaging, or a combination of the two.</p>