<p>Does everyone get stafford loans?
It's the only money I get in order to pay for school (and bright futures), but I'm worried that I may not get them because my EFC is so close to the COA.</p>
<p>Yes, everyone is offered the unsubsidized Stafford loans.</p>
<p>The subsidized loan is a “need based” loan so you have to show “financial need” to be eligible for it. If your EFC is right at or above the COA then you will only be offered the unsubsidized loan.</p>
<p>My EFC is about $3500 below the COA.
So can I still receive the $6500 for the year?
Even though my EFC is what it is, I really need the loans since my parents really aren’t in the position to pay for school out of pocket, and with only a $2000 unsubsidized loan a year, that seems impossible given the time.</p>
<p>Even if you were not eligible for the subsidized loan, you will still be offered your full loan eligibility based on class level. It would simply be all in unsub loans. </p>
<p>You mention $6500 so I am assuming that you are a 2nd year student. If this is correct and you are indeed not eligible for any sub loans, then you will be offered your full eligibility of $6500 in an unsub loan. </p>
<p>The university has to offer you the full amount of loans you are eligible for based on class level and your aggregate limit. Your EFC simply determines how much of it will be in the subsidized loan. </p>
<p>Remember, Stafford loans fall under the federal guidelines for awarding, not the university’s.</p>
<p>Is there not a $2000 per year limit on the unsubsidized loan? or is that just the amount they give you if you are receiving both subsidized and unsubsidized?</p>
<p>No, there is not a $2k limit on unsub loans. $2k is what you are given if you qualify for the full amount of subsidized loans.</p>