<p>Hello all, </p>
<p>I am planning on studying abroad in Costa Rica this summer (through a university program). The total costs are just under 7000 (for everything). I have about 5k in aid and scholarships, but I was just wondering if it would be possible to take a Stafford loan out for the rest? I would only need about a 1k loan for travel costs and I have only taken out 1k this school year. I am hoping that I won't need a loan at all (hoping to pay for it from working) but just in case, I was wondering if this was possible. </p>
<p>Thanks everyone!</p>
<p>You can take out a loan, but you can’t exceed the annual maximum for the year (determined by your year in school). As I recall, you are a sophomore for the upcoming term, correct? That means that for 2009-10 award year (all terms within the year) you cannot exceed a total of $6500 in Stafford loans (sub+unsub). </p>
<p>Will you be considered at least part time? If not, you won’t be able to borrow … but you may be able to up your loan BEFORE the summer term to pay for it (if there is room in your fall/winter COA). Call the aid office (or stop by) - they can advise you.</p>
<p>Actually, it’ll be full time (12 credits) and I’m not going to be anywhere close to the yearly limit 
(at most, I will be taking is 2.5k for the whole year). Thanks!</p>
<p>You should have no problem covering what you need with loans! Have fun! :)</p>
<p>Sorry for the bump, but I have an additional question and it didn’t really deserve its own thread lol. </p>
<p>Anyway, I got my financial aid package, but it is all university grants (merit scholarships don’t come out for a while). But there is no Pell Grant. Can the Pell be used for study abroad since it’s considered the summer semester (with that new second pell per year)? Because if I got the full Pell that I got for the year (5300? my EFC was 10) for the summer, my expenses would be almost covered. </p>
<p>I understand if you guys don’t know yet because this whole second Pell thing seems to be a mystery to quite a few financial aid officers, and I know that my package still may change, but I figured I’d ask anyway. I am sort of OCD about planning things. Thanks again!</p>
<p>I know when my daughter was planning to do study abroad (sadly she is not going to after all) the school said her Pell would be still in place as long as she was doing an approved program. Don’t know about how summer Pell will work as far as summer study abroad.</p>
<p>If you can get Pell for summer study abroad I doubt very much you would get a full years pell for summer classes even in the US. As well as EFC the amount of Pell depends on enrollment status and is by session. To get a full semester of Pell ($2675) you would have to be enrolled full time (generally 12 credit hours) in a session. I don’t know how anyone would get a full years Pell for the summer session. Last year my daughter did 13 hours in the summer (before summer pell was available) and had to get special permission to do 13 hours because anything over 12 was considered credit overload for summer session (it is 18 in regular semesters). I *think *that this summer she could get $2675 summer Pell if she did that many hours again (which I don’t think she will).</p>
<p>Oh haha, I definitely mis-typed (sorry, worked for like 12 hours today, I’m very tired). I meant the full for the semester (so 2650). The aid that the school has given me is about 1k (the rest is a merit scholarship from the university). I am enrolling for a minimum of 12 credits (I can register for up to 14).</p>
<p>Sorry for the confusion, I should definitely read what I type before I post. :)</p>