<p>this year i was awarded a full pell grant and my stafford loans. the pell grant should be close to enough to pay my tuition. can i still borrow the full amount of my loan even though my pell grant will be enough?
i will need money for books and travel expenses. also have bills to pay as i may not have a job soon.</p>
<p>The COA (Cost of Attendance ) of your school is higher than just tuition. What is the COA of your school?</p>
<p>If your tuition is about $5000 and you’re commuting from home, your COA is probably somewhere around $10k…so you could borrow up to that amount.</p>
<p>Look on your school’s website to determine COA…even if you’re going to live at home, they will include some budget for that.</p>
<p>this is my estimated cost</p>
<p>Budget Component Amount
TUITION $5,424.00
BOOKS AND SUPPLIES $1,204.00
ROOM AND BOARD $8,898.00
TRANSPORTATION $3,502.00
PERSONAL EXPENSES $3,178.00
Total: $22,206.00</p>
<p>my total award is $16,050. i can still borrow up to that total amount? i am listed as off campus student</p>
<p>Are you living in an off campus apartment or are you living with your parents? The R&B amount is an error if you’re living at home and they will reduce your COA when they catch it. If that happens after you’ve received loans/aid, then they’ll expect immediate repayment. So, it’s better to direct this question to your FA office than post it on a forum…</p>
<p>If you’re going to be living off-campus (and not with parents), then you can borrow the difference between COA and your FA…up to $5500.</p>
<p>However, if you will be living at home, and the school doesn’t know that, you need to fix that now because you could end up owing the school money.</p>
<p>Where will you be living during the school year?</p>
<p>well currently im at home but when fall semester starts i am planning to move into an apartment with some friends. so i was going to use the money to pay for that.</p>
<p>So, if that’s the case, then you can borrow about $5500.</p>
<p>how did u get 5500?</p>
<p>I believe that’s roughly the difference between your award and the COA, right?</p>
<p>$5500 is the maximum Stafford loan for a dependent freshman. You should be able to borrow that full amount as long as your total aid including grants, scholarships, and loans does not exceed your COA. Did you have any other aid as well as the Pell and the Stafford?</p>
<p>The COA for off campus vs on campus may or may not vary depending on your school. Some schools have 2 COAs - on campus and off campus. Other schools have three COAs On Campus, Off Campus not with parents, Off campus with parents (usually the lowest).</p>
<p>i am a sophomore</p>
<p>Then the maximum Stafford loan (assuming you are a dependent student) is $6500.</p>
<p>i am independent also</p>
<p>then you should be eligible for $10,500.</p>
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<p>Doublem…are you over 24, a veteran, married? How is it that you are independent?</p>
<p>im over 24</p>