<p>I have found out that a local community college caps the Stafford (sub+unsub) a student may receive at $7500 vs the $9500 the student is eligible for >> first year, independent student with 0 EFC due to current unemployment status. I believe they cap it at $7500 regardless of your academic year (fresh., soph., etc.).</p>
<p>WHY would a college do this - what could possibly be the rationale behind it? Thus far, the only answer I have received is "It's just the way we do it." I have one more person to speak to in the "chain of command" before I take it to the President of the college. This just makes no sense to me.</p>
<p>Could someone shed some light on this for me please? </p>
<p>Also, what would be the best way to appeal this procedure? The financial aid department at this college is, at best, extremely uniformed and unhelpful. When asked what the cost of attendance was, no had any idea what I meant!</p>
<p>Any and all help, suggestions, etc. would be appreciated, thanks!</p>
<p>^^^
What is the total COA at this community college?</p>
<p>Toal aid can’t generally exceed the school’s COA. If the student has a 0 EFC and gets the Pell the it is unlikely they are eligible at a community college for a full Stafford as well. </p>
<p>My son gets the pell and was never offered more than the max subsidized Staffords at his CC. </p>
<p>I also had great difficulty finding the CCs COA as they only publish tuitin and fees and room and board information. I wanted to withdraw some money from his remaining 529 account to help him with his bills and it was like pulling teeth to get the info. I ended up emailing rather than asking the front desk staff (who were very nice but had no idea what the COA was either). The head of the FA department emailed me the info.</p>
<p>They do it to prevent students from getting in trouble by having debt they will not be able to repay.</p>
<p>Yeah, I think swimcatsmom made the salient point. The aid awarded (and Staffords are an aid award) cannot exceed the cost-of-attendance. That would be including all forms of aid, the Pell, Staffords, etc.</p>
<p>“They do it to prevent students from getting in trouble by having debt they will not be able to repay”</p>
<p>and</p>
<p>"The aid awarded (and Staffords are an aid award) cannot exceed the cost-of-attendance. "</p>
<p>sounds okay…what am I missing?</p>
<p>Federal regulations REQUIRE colleges to make the COA available to students. They must provide it … it is supposed to be readily available. You have every right to know. Ask for a breakdown of the budget used when awarding financial aid (maybe that will help them understand what you are requesting). </p>
<p>I agree that the loans offered are probably due to a relatively low COA. Some CCs do not put any living expenses in the COA (you can’t live on campus … you do have to live somewhere whether or not you attend school … so they may just have a 0 budget for room & board). Budget/COA - EFC - gift aid (grants/scholarships) = eligibility for sub loans. Budget/COA-gift aid - sub loan (and - CWS, if any) = eligibility for unsub loans. </p>
<p>To be perfectly honest, I don’t know if they HAVE to give you the loan if you would be eligible based on these equations. It may well be possible to limit loans, but it’s never crossed my mind to wonder. However, if the school has a high default rate, they may be doing that to prevent defaults (if the rate is too high, the school can lose its ability to award federal aid) … and it could be allowable under financial aid regulations.</p>