loans

[thistle]

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How can you get $38,000/year in stafford loans? I thought you could only get a max of $18,500/year ($10,000 from unsub. and $8,500 from subsidized).

Will someone please explain?

 

[aphistis]

I was going to elaborate in my previous post, but I didn't think you'd be interested. Sorry!

You're right, the ordinary cap for graduate Stafford loans is $18.5k/year. Some professional programs are granted additional allowances, and dentistry is one of them. We're permitted an additional $20k/year in unsubsidized loans, up to a lifetime maximum of just a smidge under $190k for all government loans.

 

[thistle]

Aphistis,

thanks for your quick reply!

My financial aid report said that I can get $18,500. Does that mean that I was not eligible for the extra 20,000?

I find this confusing since my EFC was only $1,450.00

thanks for the help!

 

[thistle]

Okay, in addition to my previous response...do I have to go to a private lender in order to receive the extra unsubsidized stafford funds?

 

[s.mutans]

Different Schools/States have different Budgets. You better check with your financial aid officer. From my expereince, UNLV has a higher maximum Unsubsudized amount versus UC's. Are you sure you only qualify for 18.500 for unsub? That seems like a mistake! What school will you be matriculating?

 

[thistle]

s.mutans,

I'll be going to UNC. The financial aid report they sent to me stated that I could get $4, 250 each semester subsidized stafford and $5,000 each semester unsubsidized stafford. This adds up to $18,500 for the whole year. Should I just contact the school and see if I can get more?

thistle

 

[PDPjester]

hold on a minute.
From what I know, the max for dental programs are $30K unsub and $8.5k sub per year, totaling 38.5k per year for staf loans. and there's perkins, but that is determind by the financial officer. then there's private after that. and i think this is so (the new max on the unsub) because they got rid of one of the federal loans (i think the Health professions loan). check on it.