<p>Tell your friend to act immediately on getting the Direct Student loan for this current school year. I know that 2 quarters are already complete…that’s ok…he can still get the loan for this past year. This means submitting the FAFSA for the previous year…the one that could have been submitted on Jan 1, 2010.</p>
<p>Then, he needs to get the loan for this next school year (fall 2011 and forward). That will require the FAFSA that was probably already submitted that gave the high EFC. However, it he didn’t submit it (or it wasn’t finalized), then he needs to do so. That way he can get another $7500.</p>
<p>It doesn’t matter that his EFC exceeds COA…he can get both loans…but he needs to act NOW for that first one.</p>