Stafford Loans Max/Eligibility?

Paying for College
1

<p>I've been looking through a lot of articles and loan sites, and I'm just getting more confused.</p>

<p>They say you can either take federal, or private loans.</p>

<p>I already have, on my financial plan for my school, Fed loans, both subsidized and ubsub, perkins and pell. </p>

<p>Are these the max amounts I can borrow, as far as the Stafford loans go? My unsub stafford is 2,000 for the year, is that it? Or can I apply for more? </p>

<p>My total cost for the year is about 5,200. So I'd only need 1,800-2,600 for the 1st semester (depending how a grant I have goes). I'm worried that my credit is not enough, and I'm not sure my parents cosigning would really have an effect. </p>

<p>Thanks for any help you can provide.</p>

2

<p>The maximum direct (stafford) loan for the year for a freshman is $5500 of which up to $3500 can be subsidized if you have financial need (as determined by FAFSA EFC and school COA). So you can get $3500 sub (if you have unmet need of $3500) plus $2000 unsub. If your need is less than $3500 - say $2500 - you can get $2500 as sub and the balance of $3000 as unsub. You can not get more than $5500 total in Stafford loans as a dependent freshman (it is a little higher for sophomore and 3rd/4th year students).</p>

<p>But, the total of all aid (merit scholarships, need based grants, WS, loans) can not add up to more than the COA of the school.</p>