<p>This year I transferred into umass Lowell as a JR from a community college. I worked and paid my way through community college. I just got my financial aid and it was only for 7,500 total and the cost per semester is about 6,250 + books. I don't have much money in the bank and commute farther so I cant work as much. Why didn't I get more money. My dad was laid off most of last year and my mom is also unemployed.</p>
<p>Most schools do not promise to meet full need. It is very common for a student to have a large “gap” between their EFC and the school’s cost. Many do not offer any institutional funding, only Federal and maybe some state aid for eligible students. Federal aid is very limited and will not cover the cost of even most 4 year State Us. For instance, the maximum Pell grant for a 0 EFC student is $5550 whether you are at a CC, a 4 year State U, or an expensive private. Direct Federal loans are also very limited ($7500 for a Junior). Were you only offered loans?</p>
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You should have some Pell grant. If not, talk to your FAO about your FA</p>
<p>It is possible that the father earned enough before being laid off to keep the student from being Pell-eligible. The best thing to do is request a special circumstances review, since the parents are not currently earning the amount they did in the past. Call your school and ask to speak with an aid advisor. Explain your situation & ask how to get a special circumstances review. This is the link for UMass-Lowell that discusses your situation, but it doesn’t say much other than to contact them: [Financial</a> Aid](<a href=“My Financial Aid | UMass Lowell”>My Financial Aid | UMass Lowell). Do it right away.</p>
<p>I was only offered loans, one for 5,500 and another for 2,000. I didn’t expect to get a full loan but felt like this was kind of low. I called and they did not care they said the loans are what I got and that’s what I get.</p>
<p>If you are a dependent junior, that is the maximum direct federal loan you are eligible for (the limits are freshman $5500, Sophomore $6500, Junior and up $7500). The school can’t offer you any more than that in student loans. </p>
<p>Other loan options would be for your parents to take out a parent PLUS loan. If they apply for and are turned down for a PLUS loan, you would be eligible for an additional $5000 in federal direct student loans (taking you up to independent student levels). There are also private loans but they would either require your parent to cosign for you or take the loan out in their own names. However, if your parents are unemployed, they should not take on debt.</p>
<p>If you did not get any Pell grant, EFC must have been too high despite your parent’s unemployment. Are they both still unemployed? If so, have you asked the school about a special circumstances adjustment to reflect the loss of income?</p>
<p>I think my EFC was around 7000. How is it that people get 100k in debt from loans if the max is 7,500 a year?</p>
<p>Maximum Direct loans you could borrow is $31,000.
However, a few people also apply for private student loans up to their COA.</p>
<p>Some schools offer their own loan programs, and some people take out private loans.</p>
<p>If your EFC is 7k, I would definitely look into that special circumstances adjustment, because 7k is obviously not a reasonable EFC for unemployed people with few assets.</p>
<p>I sense that you called the office and were given a standard answer. You need to speak with an aid officer, and you need to explain your situation.</p>
<p>When was your dad laid off (month)? As I indicated earlier, it is likely that a special circumstances review might make you Pell-eligible. When you called, you got the normal response … you did not qualify for anything but loans. That person, however, does not understand your family’s situation, and YOU need to advocate for yourself.</p>
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Private loans and ballooning interest. </p>
<p>The max aggregate direct federal loan for a dependent undergrad student is $31,000. Interest can add to that.</p>
<p>Independent students have a higher max aggregate.Grad and professional students have yet higher maximums. But for a dependent undergrad, a huge chunk of the $100k would have to come from sources other than Federal loans.</p>
<p>Agree with Kelsmom. Contact your FA department and make sure you talk to an actual financial aid officer about your individual situation. </p>
<p>In our experience, phoning the FA department or dropping in meant we ended up talking to student helpers and not actual aid officers. They usually can’t answer complicated questions. You must talk with an actual FA officer.</p>