<p>I have a question about Parent PLUS loans. I know my parents are going to be denied the Parent PLUS loan due to poor credit and it's a chunk of my financial aid (7,000 dollars in Parent PLUS loans per semester so 14,000 total). I was wondering, how much will UT give in Unsubsidized/Subsidized loans , additionally, after I fax in my rejection letter?</p>
<p>The annual unsub will be increased by $4000 if you are a freshman or sophomore and by $5000 if you are a junior or senior.
So, with a PLUS denial (must apply & be denied each year) these are the annual Stafford amounts:</p>
<p>Freshman $9500 (up to $3500 may be subsidized)
Sophomore $10500 (up to $4500 may be subsidized)
Junior /Senior $12500 (up to $5500 may be subsidized)</p>
<p>4,000 per semester or 4,000 overall?</p>
<p>$2K Per semester. $4K per year.</p>
<p>Okay well leaves me around 4,000 short, total, to pay for books and my housing . My EFC is 0 so idk how I’m gonna be able to pay for the rest. Also does anyone know if we don’t take summer classes at UT will the funds/grants transfer over to the fall/spring semester?? Also when do we fin out if we have received a UT scholarship or Engineering scholarship (since i’ve filled out both applications)??</p>
<p>Get a private loan from a bank.</p>
<p>Are you a new student or continuing student? If you are a new student accepted for the summer term, you have to attend class in the summer in order to attend in the fall.</p>
<p>If you are a continuing student, the portion of the Stafford loan you don’t use during the summer will be available for fall/spring. (For those who aren’t aware, UT’s 1st semester of the academic year is Summer).</p>
<p>If you will be a 1st year Texas resident, be sure to have your final HS transcript sent as soon as it is available. You may qualify for the $6780 Texas Excellence grant.</p>
<p>With a 0 EFC your ANNUAL award could be:</p>
<p>$5550 Pell
$6780 Texas Excellence (If you graduated from a distinguished or recommended program)
$3500 Sub Stafford
$2000 Unsub Stafford
$4000 Addl Unsub after PLUS denial
$ ??? (up to your budget) Work Study</p>
<p>Some scholarships are awarded in June. Even without a scholarship, it looks like it is doable if you get the Tx Ex grant.</p>