Law School Discussion

EFC= $16000????

almuhajaba

Re: EFC= $16000????
« Reply #10 on: February 05, 2006, 12:52:21 PM »
the perkins is separate from the whole 18.500 figure.

I think you're referring to the subsidized stafford loan, which is capped at $8,500, and is part of the $18,500 stafford loan limit.

The Perkiins Loan is for low-income students, and has an even more favorable interest rate than the subsidized stafford. The most one can take out in Perkin's is $6,000 per year on top of the $18,500.

180

And don't bank on the Perkins.  The current administration has talked about eliminating the program and folding some of its funding into Pell Grants (I believe).

:( I wish the current administration didn't have a vested interest in keeping the population from being educated :(

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Re: EFC= $16000????
« Reply #11 on: February 06, 2006, 08:42:02 AM »
the perkins is separate from the whole 18.500 figure.

I think you're referring to the subsidized stafford loan, which is capped at $8,500, and is part of the $18,500 stafford loan limit.

The Perkiins Loan is for low-income students, and has an even more favorable interest rate than the subsidized stafford. The most one can take out in Perkin's is $6,000 per year on top of the $18,500.

Indeed I was talking about the subsidized stafford loan; thanks for correcting me.  But now I'm even more confused.  You say the limit on a Perkins loan is 6 grand, yet this site indicates its 40 grand.  http://www.salliemae.com/apply/borrowing/perkins.html
This is all too confusing.  I suppose I should schedule a meeting with my financial aid office. 

almuhajaba

Re: EFC= $16000????
« Reply #12 on: February 06, 2006, 11:03:33 AM »
the limit is 6k/yr. the aggregate limit over the course of one's education is 40k

hth :)