<p>So I'm a sophomore at CMU, and this year I asked for the unsubsidized stafford loan (as I did last year). This year I only received $2000 versus the $4000 I received last year. I found out the only way I can receive the full $4000 again is to have my father rejected again for a Parent PLUS loan. I thought this was a little strange, but I went along with it. I put in a application for my dad, which probably has worse credit than the previous year, and it looks like it is going through (I got a letter today saying he needs to sign the promissory note and provide some other basic information for the loan to be processed). He can barely provide anything for me at the moment, so this is not an option. First, I find this a bit ridiculous that I can't just take the entire unsub. loan and turn down the PLUS loan. Second, how could he be approved this year and not last year. I did apply for the PLUS loan through Discovery Student Loan(don't know if they are less strict about the credit check or not).</p>
<p>the rules for parent Plus lending were relaxed this year. thus people who would have been turned down are now being approved</p>
<p>I am assuming you will be a sophomore. Do you have a $4500 subsidized Stafford AND a $2000 unsubsidized Stafford? If so, that's the max for a dependent undergrad sophomore. If your father's PLUS is turned down, you would then be eligible for another $4000 unsubsidized, for a total of $10,500. Were you awarded $6500 total for Stafford loans (4500/2000)? If not, do you have a huge scholarship? If not, you are eligible for the full $6500, since unsub. Stafford can replace expected family contribution (as long as all financial aid + unsub. Stafford does not exceed cost of attendance).</p>
<p>At the moment, I have a total of $6500 in Stafford loans. I think this is the max I can get unless my father gets rejected for the PLUS loan (then I think I get an additional $2000). I'm not sure if we should sign all the paper work(can we turn it down if he is accepted?) because it seems we are accepted. Are all lenders as lenient as the others with the Unsub. Stafford loan? if not I may try to apply again, but to another lender (the one I tried is Discover).</p>