Unsubsidized Stafford = 34,444???

[babalaco2]

I was recently reading on NY Medical College's website the due to recent legislature, unsub stafford is now $34,444, up from 30K. Is the a national thing, or just for that school???

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[DrB]

As far as I know it is just 30k for unsub and 8500 for sub. If you can get 34444 then take it! That is a great deal, at a much lower interest rate than private loans. In the end, it is up to your FA and the government, so shoot for the stars, but settle for the moon.

 

[afr0dite01]

Thats the same amount I recieved from Jefferson also so I'm sure its a National thing.

 

[tinkerbelle]

Hmm. That's wierd. I only got the 30k in unsubsidized loans. Maybe only private med schools get the extra $4,444?

 

[ItsGavinC]

This coming year I'll get $34,400 unsub. Stafford.

 

[Peeshee]

This coming year I'll get $34,400 unsub. Stafford.

I dont understand how you can get higher than $18,500; I thought that was the maximum amount. If the tuition is around $30,000, are you able to get all of that $30,000 in Stafford loans,instead of getting private loans?

 

[tinkerbelle]

I dont understand how you can get higher than $18,500; I thought that was the maximum amount. If the tuition is around $30,000, are you able to get all of that $30,000 in Stafford loans,instead of getting private loans?

Nope. Maybe that was the limit for undergrad or something? As long as your tuition/living expenses are more than 38,500, you should get the 8500 subsidized and 30k unsubsidized (or according to these guys, 34,400 in unsubsizided... although I only got 30k).

 

[Peeshee]

Nope. Maybe that was the limit for undergrad or something? As long as your tuition/living expenses are more than 38,500, you should get the 8500 subsidized and 30k unsubsidized (or according to these guys, 34,400 in unsubsizided... although I only got 30k).

That's good to know. So,did you just do the FAFSA online? I thought the school was the one to set the limit on how much you could get. I'll probably have to call tomorrow to find out if I can get more.
Thanks!

 

[tinkerbelle]

That's good to know. So,did you just do the FAFSA online? I thought the school was the one to set the limit on how much you could get. I'll probably have to call tomorrow to find out if I can get more.
Thanks!

Yup, I just did the FAFSA (although don't forget some schools require extra forms). Yeah, you should probably just call your school and find out. I thought the $38,500 was the standard minimum loan package, but I suppose it could vary from school to school.

 

[Doctobee]

This coming year I'll get $34,400 unsub. Stafford.

Same here

 

[cammy1313]

I dont understand how you can get higher than $18,500; I thought that was the maximum amount. If the tuition is around $30,000, are you able to get all of that $30,000 in Stafford loans,instead of getting private loans?

The max amount is 18,500 EXCEPT for health professional school. In this instance you are eligible for another 20,000 in the form of a "super unsubsidized" loan.

I also had a friend recieve 34,444 (+ the 8500) from Jefferson and I don't undestand why either. The only financial award I recieved from BU was the 38,500 total and that's not even enough to cover tuition! I feel that I should very well get the extra 4,444 to at least pay for school alone. I wonder if there's someone I can contact about this. Maybe someone on the FAFSA website. Anyone know?

 

[KiKat37]

I think it depends on your school. PSU gave me $32,222 in unsub. Stafford loans + $8,500 in sub. Stafford loans.

 

[kirexhana]

bump...

so the consensus is... schools can set their own limit on stafford unsub? cuz i got 36,666 unsub and was confused cuz i thought annual limit for most programs was 30000...

 

[kilani]

This coming year I'll get $34,400 unsub. Stafford.

This coming year as in 2006-2007 ?

 

[karariki]

The max amount is 18,500 EXCEPT for health professional school. In this instance you are eligible for another 20,000 in the form of a "super unsubsidized" loan.

I also had a friend recieve 34,444 (+ the 8500) from Jefferson and I don't undestand why either. The only financial award I recieved from BU was the 38,500 total and that's not even enough to cover tuition! I feel that I should very well get the extra 4,444 to at least pay for school alone. I wonder if there's someone I can contact about this. Maybe someone on the FAFSA website. Anyone know?

that's weird. I called FAFSA pple & my school financial aid office. they told me that the max is $18,500 for me (i'm a pharmacy student.). i don't understand how u guys could get 30K unsubsidized loan. I'm classified as a grad/professional student on my FAFSA.

 

[katiekate]

that's weird. I called FAFSA pple & my school financial aid office. they told me that the max is $18,500 for me (i'm a pharmacy student.). i don't understand how u guys could get 30K unsubsidized loan. I'm classified as a grad/professional student on my FAFSA.

From finaid.org:
"Starting on July 1, 2007, Stafford Loans allow dependent undergraduates to borrow up to $3,500 their freshman year (up from $2,625), $4,500 their sophomore year (up from $3,500) and $5,500 for each remaining year (independent students and students whose parents have been turned down for a PLUS loan can borrow an additional unsubsidized $4,000 the first two years and $5,000 the remaining years). Graduate students can borrow $20,500 per year (up from $18,500), although only $8,500 of that is subsidized. There are also cumulative limits of $23,000 for an undergraduate education and a $65,500 combined limit for undergraduate and graduate. (For independent students and for students whose parents were denied a PLUS loan the cumulative limits are $46,000 and $138,500, respectively. Some medical school students may be able to borrow up to $40,500 a year (up from $38,500) and $189,125 total.)

Many students combine subsidized loans with unsubsidized loans to borrow the maximum amount permitted each year."

The increased amount is for degree programs leading to an MD or DO. There is a loan called HEAL that is for Health Professions, but I don't know much about that.

 

[scpod]

bump...

so the consensus is... schools can set their own limit on stafford unsub? cuz i got 36,666 unsub and was confused cuz i thought annual limit for most programs was 30000...

38,500 is the total for 9 month programs. 10, 11, and 12 month programs are eligible for an additional pro-rated amount. In my ten month program next year, I get 8,500 sub and 32,222 unsub. There's an extra 2,222 available for each month over 9.

 

[UserNameNeeded]

38,500 is the total for 9 month programs. 10, 11, and 12 month programs are eligible for an additional pro-rated amount. In my ten month program next year, I get 8,500 sub and 32,222 unsub. There's an extra 2,222 available for each month over 9.

Why don't they apply the pro-rated feature to subsidized Stafford? That would help a lot more.

 

[kirexhana]

Why don't they apply the pro-rated feature to subsidized Stafford? That would help a lot more.

that would be nice....

 

[kirexhana]

38,500 is the total for 9 month programs. 10, 11, and 12 month programs are eligible for an additional pro-rated amount. In my ten month program next year, I get 8,500 sub and 32,222 unsub. There's an extra 2,222 available for each month over 9.

ohhhhh ok..... duke is a 12 year program, so that makes sense. but is this through any lender, or would it have to be only through my institution that i could get the full 36666?