Please help! Max loan info needed!

Paying for College
1

<p>Okay, to start off - my university's financial aid office is notorious for giving out wrong information. They've given me completely different answers both times I contacted them so I thought I'd ask here!</p>

<p>It's mid July and by now I would usually have my full financial aid package in but I've checked and the only awards being shown are my grants and scholarships, my federal loans are not listed. I contacted someone in the office through email about why they were not offered to me and this is verbatim what she said - </p>

<p>"It is due to you having so many PLUS denials in the past. The government thinks you are getting more funding than you are supposed to. You can have the parent do the credit check for the PLUS loan, email us the denial, then we will be able to offer you loans again."</p>

<p>I emailed them by Parent PLUS loan denial and got a reply saying "the paperwork will be turned in".</p>

<p>Fast forward 2 weeks later, I still haven't heard back. I call the office this time and the lady on the phone tells me the person who initially emailed me had gone on vacation that same week so she actually didn't get anything turned in. GREAT. I once again ask, why am I not being offered any loans? She tells me I have hit my maximum amount of federal student loans available. And she's right, I have $31,500 taken out already BUT I'm a dependent student who's parents DON'T qualify for PLUS loans so my limit should be around $57,000, right? I know the amount of loans available per year changes by school but I thought the loan limit was the same for everyone??</p>

<p>I bring this up and she says since I don't qualify for plus loans I qualify for an additional $5,000 in loans or something like that, she didn't know. She told me to forward my plus denial again and to request any additional amount I can receive and they would email me if I was offered anything. </p>

<p>This is confusing! I hate being told different info by everyone I talk to! Can anyone on here let me know if I'm correct about the loan limit being higher since I don't qualify for plus loans? I found the info online but I don't know if it changes by school. Any info is appreciated, thank you!</p>

2

<p>I am sorry that you have not been given correct information. Here is what is happening: You have borrowed more than the $31,000 allowed for a dependent undergraduate. Before they can award you this year, the financial aid office is required to review your loans manually to make sure that you only exceeded the amount because of additional unsub due to parent PLUS denial. The aid officer has to add up the amount you received as a dependent student and make sure it is not more than $31,000. </p>

<p>Yes, if your parents received a PLUS denial for 2014-2015, you will be able to get an additional $5,000 (assuming you are a junior or senior). Even if you have reached the $31,000 undergrad limit, if you have a PLUS denial, you will be able to get the full $12,500 in additional unsub … that is because the effect of a PLUS denial is to allow you to borrow at the independent loan limit for that year. You would then be able to borrow the independent limit for your year in school & would be bound by the $57,500 independent undergrad limit.</p>

<p>You weren’t offered loans because the computer system wouldn’t allow an overaward. An aid officer has to review your info & award the loans … and you may have to wait awhile, because aid offices are notoriously understaffed (and they have to take a vacation once in awhile).</p>

3

<p>Okay, that makes perfect sense, thank you! Our financial aid office is 3/4 run by students so I think that’s why I’m getting different information every time. </p>

<p>Thank you for the help!</p>

4

<p>You’re welcome. I am guessing you are at a large state school … I used to work in one. You should be fine by the time school starts, but it is a good idea to stay on top of it.</p>