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stafford subsidized loans and need

Discussion in 'Financial Aid' started by Gleevec, Apr 18, 2004.

  1. Gleevec

    Gleevec Peter, those are Cheerios
    7+ Year Member

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    Hi,
    I keep seeing that qualifications for the subsidized Stafford loans is based on need. However, I see no parameters by which "need" is measured. I do have a gap between the yearly cost and EFC, is this gap the "need" they refer to?

    The reason I ask is it seems that 95% of med students would get subsidized Stafford if need is merely defined as (Need = Cost - EFC - Student Contribution)
     
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  3. southerndoc

    southerndoc life is good
    Physician Moderator Emeritus Lifetime Donor Classifieds Approved 10+ Year Member

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    I'm not sure how they determine who qualifies. I entered into school with a respectable annual salary from 2 jobs, plus I received a substantial scholarship covering half my tuition. I still got the full 8500/year in subsidized loans.
     
  4. Gleevec

    Gleevec Peter, those are Cheerios
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    If you dont mind me asking, how did you know you qualified for the full subsidized loans? Do the schools just take your financial info and send us a financial package optimized for the student?

    Thanks!
     
  5. southerndoc

    southerndoc life is good
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    Yea, pretty much. You'll get a proposed financial aid award, or at least I did, during orientation. My school has a great financial aid office. They do a lot of work for students. Basically it's like we get accepted, they get our funding. Hopefully your school is like that as well.
     

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