<p>If I am running out of money at a 2 year community college will I have the same amount of funds available when I transfer to a 4 year University?
If so are their other options when the standard financial aid (Stafford Loans, Pell & State grants) are used up?</p>
<p>Depends on what you are getting now (if you are getting full payouts of Pell Grants, taking out max on the loans). Also depends on what particular state grant you are getting. So–what are you getting at this point and which state grant are you getting?</p>
<p>However, in general, your Junior year you would probably be able to borrow 5500 in Stafford loans and probably receive a full Pell Grant (is that about 5K now?). And whatever you qualify for in the state grant. Your Parents can also take out a Parent PLUS loan in <em>their</em> name. If they are turned down because of poor credit, it then qualifies you to take out an additional 4K student loan in your <em>own</em> name.</p>
<p>I believe Stafford is 6500 for a Junior.</p>
<p>The Stafford loan for Juniors is $6500. For seniors $7500. If you are eligible for the Pell, that is an entitlement, and you will receive the amount for which you are eligible up to $5400, I believe. Pell eligibility is for more than two years. There IS an aggregate limit on the Stafford loans but it would not really be possible to exceed that amount in two years, I don’t think.</p>
<p>Some four year schools have merit scholarships specifically FOR students who are transferring from community colleges. Check to see if this is the case for you.</p>
<p>Did the limits go up? </p>
<p>The Stafford site from the government (with handy chart) seems to list the lower 5500 number for subsidized (a total of 7500 for juniors if including unsubsidized)…</p>
<p>[Student</a> Aid on the Web](<a href=“http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp]Student”>http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp)</p>
<p>I’m pretty sure the limits are $5500 for freshmen, $6500 for sophomores, and $7500 for juniors and seniors. </p>
<p>annika, that chart that you posted clearly show that $5500 is only for first years. It goes up from there. Assuming that the OP has finished 2 years of CC (or will by the time that he goes to a 4 year uni) he will be eligible for $7500 his 3rd year.</p>
<p>$31k is the total limit ($23k subsidized).</p>
<p>@romani</p>
<p>I am asking about Subsidized borrowing for 3rd year students. The chart clearly says that for 3rd year students (cut n paste): “$7,500—No more than $5,500 of this amount may be in subsidized loans.”</p>
<p>I am asking if Subsidized borrowing for 3rd year students has gone up to 6500. Because I can’t find that notated anywhere on a government site.</p>
<p>annika…romangypsieyes is correct. The numbers Annika refers to are limits for Subsidized loans…but that is not what the OP is asking. They are asking what their total Stafford loans could be.</p>
<p>The reference means that the MAXIMUM amount that can be subsidized is a certain amount. For example, freshmen can get $5500 of stafford loans with a max of $3500 as subsidized.</p>
<p>For seniors, the max amount of Stafford loans is $7500 but NO MORE than $5500 can be subsidized.</p>
<p>I am very appreciative to everyone that has responded. I will continue to research and find out what I will qualify for.
I will graduate with my AA degree and a 3.8 - 3.9 GPA at the end of this semester so I assume I will be going into the 4 year institution as a Junior. I am hoping to qualify for school scholarships and worse case still have the option of loans available at the university level.
Thanks again for taking the time to respond.</p>