stafford subsidized loans and need

[Gleevec]

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)

---

Members don't see this ad.

 

[southerndoc]

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.

 

[Gleevec]

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.

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!

 

[southerndoc]

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!

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.