I am a graduate student, and I received this message on my financial aid account:
NSLDS Undergraduate Subsidized Loan Limits Exceeded
Status: Required
Based upon data provided by the National Student Loan Data System (NSLDS) and your grade level, we have determined that you may have received a total amount of undergraduate student loans that exceeds the loan limits established for the federal loan programs. However, you may have reaffirmed the excess debt with your loan servicer, restoring your eligibility to participate in the federal student aid programs. In general, students who borrow in excess of aggregate loan limits are ineligible to receive further Title IV assistance. Drexel is reviewing your eligibility and will notify you once a determination has been made.
My SAR shows the following:
Subsidized $23,000
Unsubsidized $75,875
Combined: $98,875
I have two Federal Perkins Loans totaling $1,500.
From my understanding, I should not be over the aggregate annual amount for the subsidized part, since FAFSA is reporting me at $23,000?
Could it be possible that they are trying to calculate/add my Perkins loan to that annual total? And if so, isn’t that wrong?