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Author Topic: How much can I borrow?  (Read 942 times)

texas1

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How much can I borrow?
« on: May 23, 2005, 06:59:24 PM »
I will be attending school tuition free, so my only expenses according to Financial Aid should total about $13,000. My EFC is about 20K. So does that mean that I can't borrow anything, or am I simply limited to private loans, or unsubsidized Stafford?

How does that work?

LaneSwerver

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Re: How much can I borrow?
« Reply #1 on: May 23, 2005, 07:02:05 PM »
I told you, I can loan you five bucks and that's it. If that isn't enough, whore yourself out like the rest of us.

Abevigoda

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Re: How much can I borrow?
« Reply #2 on: May 23, 2005, 07:19:07 PM »
Sorry, but you are limited to private loans due to your EFC being greater than the required loan amount; but call the school and ask them, they no way more than anyone on this board.
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Re: How much can I borrow?
« Reply #3 on: May 23, 2005, 08:13:42 PM »
Sorry, but you are limited to private loans due to your EFC being greater than the required loan amount; but call the school and ask them, they no way more than anyone on this board.

I second that...

From what I've seen, it should be possible to get UNsubsidized federal loans to the 18k max. 

(From what I understand, unsubsidized loans are either (a) for those with more need than the subsidized loans allow you to take out, or (b) for people without need but who want to borrow, or so while you won't be eligible for subsidized loans, you should be able to max out the 18.5k limit through unsub loans and do your best to avoid private loans entirely, which would be a GREAT deal any way you slice it!)

I'm pretty sure this can happen (or at least they did it for me in undergrad, where I got only unsub loans one year because my dad had a fluke good year), but check with your school first...They will definitely know better than I....

texas1

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Re: How much can I borrow?
« Reply #4 on: May 24, 2005, 10:26:21 AM »
Thanks for the advice - won't hear anything definative from school till they get our aid packets out in July!!!!