Financial Aid Question

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DrNo2000

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Hi everyone,

I have a problem that seems a bit strange to me. I just reviewed my SAR and it states that "based upon data provided by NSLDS and your reported dependency status, we have determined that you may have recieved a total amount of student loans that exceeds the loan limits established for the federal loan programs". What does that supposed to mean? I am not eligible for more loan?! I've borrowed about $26K during my undergraduate years.

I am really confused. Anyone out there that might have the same problem or knows what this means, please help!

Thank you.
 

mpp

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If you are an dependent undergraduate, the maximum amount in Stafford loans available to you is $23,000. This is increased to $46,000 if you are an independent undergraduate student.

If you will be entering graduate or professional school next year this limit will be increased. You may have completed the FAFSA incorrectly by not specifying your status for the upcoming school year.
 

DrNo2000

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I am looking at my SAR and it says that I am going to be a 1st year graduate/professional student who is working on his masters or doctrate degree! I don't know what's wrong.
 

Kalel

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I'm not sure what's going on in your case, but I think that you should be filing as an independent since you are post-undergraduate. I borrowed 27K for undergrad and never ran into a problem during med school. I think that upper-borrowing limit for stafford is really high.
 

DrNo2000

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Yeah, you guys are right. The max. amount of federal loans should be much higher than 23K. I probably had some sort of miscommunication with the person at Fafsa. I must have not fully understood her.

I really appereciate the time you guys put in to give me advice.
 

Disenchanted 1

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You should contact them by phone....it should be on their website. I did that for couple of questions I had. There must be some kind of mistake.
 
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