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Author Topic: New Stafford Limit  (Read 544 times)

ChlorasepticRelief

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New Stafford Limit
« on: March 04, 2006, 06:19:43 PM »
Just so you guys know... according to the fin. aid dept. at IUB, congress is expected to increase the maximum amount allowed per year through stafford loans to $20,500 from $18,500, to take effect next year. That's another credit-check free $6,000 for us. :)
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talula8828

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Re: New Stafford Limit
« Reply #1 on: March 04, 2006, 07:22:34 PM »
Just an FYI, that bill won't go into affect until july 1, 2007.  So we'll miss out this year!  It's also gone back to the house for revisions so we'll see . . .

ChlorasepticRelief

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Re: New Stafford Limit
« Reply #2 on: March 04, 2006, 08:05:11 PM »
Uh oh...  :'(
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sarmstrong806

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Re: New Stafford Limit
« Reply #3 on: March 05, 2006, 03:31:08 AM »
Well as long as it is coming.

talula8828

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Re: New Stafford Limit
« Reply #4 on: March 05, 2006, 11:58:37 AM »
It probably WILL pass but what the feds AREN'T doing is increasing the total amount of loans that students can borrow over their lifetime.  I just wouldn't count on it. LOL

Also, there was an earlier thread indicating that grad students will be able to borrow under the PLUS program (a federal loan program for the parents of dependent students.) While this is the case, the feds never changed the rules on this loan so we would go into immediate repayment (hardly a good option for a poor law student!)