EFC and Stafford loans

Discussion in 'Financial Aid' started by personal jesus, Apr 16, 2004.

  1. personal jesus

    personal jesus Senior Member
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    I just got back my FAFSA and its says I have a EFC of 15284. Last year I made about 4 grand but i put down that I received about 34k from an outside source for college. Im guessing that this is why i have a EFC of 15k. So my question is, will i be eligable for the Stafford subsidized loans? How about the unsubsidized?
     
  2. mpp

    mpp SDN Moderator
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    Unsubsidized Stafford loans are not need-based. EFC is irrelevant for unsubsidized Stafford loans.
     
  3. southerndoc

    southerndoc life is good
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    I had a fairly high EFC and I qualified for subsidized and unsubsidized Staffords for med school loans.

    Are you taking out loans for college or professional school?
     
  4. cooldreams

    cooldreams American Mensa Member :)
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    ok jus to kinda get this straight...

    say ur efc is like 15k, and ur skool budget is like 30k

    so this is saying u need 15k... that covers the subsidized stafford so u get the full 8500 right?? so then 15k minus 8.5k is 6.5k

    does this mean you can only get 6.5k from the possible 30k max of the unsubsidized stafford loans?? or can you still get the full 30k ????
     
  5. mpp

    mpp SDN Moderator
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    You can still get the maximum...you might have to ask for it though.

    Also, the subsidized loans are not guaranteed, even though your EFC is less than the school budget. But if you don't receive the full $8,500 in subsidized loans, go to the financial aid office and ask why.
     

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