Student Loans?

Colleges & Universities A-Z University of Southern California
1

<p>Does anyone know how the Student Loans work? Are they above the EFC line, meaning: are they part of what brings the total need DOWN to the level of EFC? (like Grant, Scholarship, Work Study, etc). Or, are they below the line, meaning: do they lower the EFC? </p>

<p>To simply the question:
Assume Total Cost=$44,000.
Assume EFC=$20,000.
Assume USC Grant of $22,000.
Assume Work Study=$2,000.
Therefore the parents are expected to pay the last $20,000. </p>

<p>If the student gets a student loan of $3,000 (thru USC Financial Aid Office) does that mean that the parents only have to come up wiht $17,000? Or is the Student Loan (above the EFC line) and would have caused the Grant to be $3,000 less?</p>

<p>thanks</p>

2

<p>If I might, add to my question above...</p>

<p>Does USC administer "Student Loans"? Or are student loans administered via Governmental agencies, or private banks?</p>

<p>Obviously, I am new to all this. I know that I have heard over the years about "student loans" and I have to admit that I don't know much about them.</p>

3

<p>The grant will be $3000 less. In your example $24000 makes up the grant, work study and loans. If you chose to take the loans your child will have to go through a loan counseling session and you have to find a bank willing to give you that loan. This is my understanding, but I'm 100% sure because I didn't end up using my loans.</p>