<p>I received a preliminary award from UCI with around $15,000 in grants and around $8000 in loans.
My question is: Although these loans are unconfirmed, is there a possibility that the loans can either be canceled or lowered in amount? (Assuming every paperwork is submitted on time and everything else constant.)</p>
<p>Why not call the financial aid office and ask?</p>
<p>My first action is to ask on a forum because that is what forums are for. I’ll call the financial aid office and ask if no one is able to answer my question.</p>
<p>Thank you though.</p>
<p>Hmmmmm… I don’t think you have to accept the loans if you don’t want to. I think it refers to the highest amount you can borrow.</p>
<p>Max Stafford loans for first year is $5500, I believe. So is this a combo of Stafford (sub and unsub) and $2500 Perkins? Or is there a PLUS loan in there–</p>
<p>If offered the student loans (stafford and perkins) should be available to you if you accept them and fill out the paperwork. No credit check. PLUS loans for the parents have a basic credit check, so they can be withdrawn if the parents don’t qualify.</p>
<p>(btw-- 8K is a pretty large hunk of student debt for one year of undergrad)</p>
<p>hmm UCI. well, i never received my package, so i dont know how they package the grant/loans. but with my knowledge (limited…but its something! :)) of UC packages:</p>
<ul>
<li>if you were poor enough to get 15k in grants…then ur EFC must be pretty low</li>
<li>UCs seem to stick to the max stafford, but not much on the perkins. my guess is 5.5k stafford, around 1k perkins, and a PLUS for the rest? </li>
</ul>
<p>assuming there’s a PLUS in there (the UCs just throw it in…), just reject taht, if possible. interest is too high, and you’d be better off paying in cash. also, if you can, try to work hard this summer and pay off the unsub part of the stafford! you are allowed to take any parts oof your financial aid; as in, you can reject the loans if you have the means to pay them off at the moment :)</p>