EFC affecting subsidized stafford loans??

[meanderson]

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I'm expecting to have an EFC of ~12,000 or so. If I want to borrow 18k for my first year in stafford loans, would I get 8.5k in subsidized loans and 10k in unsubsidized loans, or would my EFC cause the subsidized portion to be less than the 8.5k maximum? thanks....

 

[mpp]

It would depend on the school's annual budget. Check with the financial aid office.

 

[Kalel]

Most schools, if not all of them, will deduct money from the amount of unsubsidized stafford loans that you are eligible for before deducting your subsidized part. I think that you should be find borrowing 18K as almost all schools have estimated budgets well above 18+12K. If you are lucky, you may even get Perkins loans or grants that will help as well.

 

[mpp]

There are no Perkins loans for medical school.

 

[discolphie]

correct me if i'm wrong but i thought the eligibility requirements for the perkins loan program go as follows?:

perkins loans are obtained if you demonstrate extreme financial need. if you didn't take them out in undergraduate school, you can still get them in graduate school. the reason is if you take them out during an undergraduate program, you are no longer eligible to receive them again later.

so in my case, i had taken some out for college..and even though i have extreme need for them, i can no longer qualify. if i had NOT received them during undergrad, i would still be eligible for them in dental school..

 

[Kalel]

Originally posted by mpp
There are no Perkins loans for medical school.

Perkins loans are actually available at some schools, because the money for Perkins loans must come from the school. I have a few classmates who are getting Perkins, but I don't know why I don't qualify. They are really great deals.

 

[mpp]

My mistake...the Perkins loan is available for medical school. I was thinking Pell Grant.