My EFC is 0.And im going to go to a junior college for a certificate program.MY pell grant should pay for tuition.I was wondering if i cant still get a stafford loan to pay for living expenses untill i find a part time job.
2007-07-14 11:41:39 · 9 answers · asked by taurus81 2 in Education & Reference ➔ Financial Aid
You should be eligible for a Stafford loan as your EFC is 0. However, you would would only be able to go up to the max for your grade level and/or your COA (Cost of Attendance), which includes tuition/fees, books/supplies, room/board, and personal expenses.
For example, say your COA for the 0708 school year is $8000 and you are a Freshmen. A student with an EFC of 0 going full time would receive a Pell of $4310 ($2155 per semester). Say you also get a College Work Study award of $2000. Your "unmet need" would be $1690 (8000-4310-2000 = 1690).
You would be eligible for a Subsidized Stafford Loan of $1690, but would not be eligible to receive the full amount of $3500 since that would exceed your COA.
Talk to your financial aid officer for more information for your situation.
Good luck!
2007-07-14 12:27:25 · answer #1 · answered by caba 5 · 1⤊ 0⤋
You are not guaranteed a Stafford loan just because your EFC is $0. There are other considerations, for example if you have been convicted of certain offenses while attending school previously, if you have registered for selective service if male, if you are delinquent in past student loans, etc.
2007-07-21 04:19:09 · answer #2 · answered by sunrisecitycarpets 2 · 0⤊ 0⤋
you will be eligible for stafford loans and can take out one to help pay for living expenses during school since your efc is so very low. remember though that you will have to pay back loans after you graduate. if you can pay for your tuition with just the pell grant try not to take too much out in loan. its better to graduate with lower or no outstanding loans owed!
2007-07-14 14:28:01 · answer #3 · answered by ciessa1203 3 · 0⤊ 0⤋
Yes. You may even get more money than you tuition cost as a grant, because of your 0 EFC. But student loans are guaranteed.
2007-07-14 11:52:40 · answer #4 · answered by NS 2 · 0⤊ 0⤋
You can not get more the "Cost of Attendance" in financial aid. Tuition and fees are just part of the "Cost of Attendance". Living expenses, room and board, books, etc... are part of the "Cost of Attendance" along with the tuition and fees. Ones the tuition and fees are paid if there is a balance then that is when you get a refund to pay for your other educational expenses like room and board, etc...
2007-07-14 13:37:05 · answer #5 · answered by Boriqua7 2 · 0⤊ 0⤋
Dolphin Quartz has your best answer. Borrow wisely! I recommend contacting your financial aid office for recommendations on lenders. They know who is reputable. There are alot of non legitimate people out there preying on students. BEWARE!!!!
2007-07-21 14:16:51 · answer #6 · answered by John 3 · 0⤊ 0⤋
yes you can still get the loan. they are not going to say no to making money off of you...
2007-07-22 09:26:33 · answer #7 · answered by Anonymous · 0⤊ 0⤋
i just got approved for a staff loan and i have horrible credit :)
2007-07-19 15:56:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yep, same thing
2016-05-17 22:11:40 · answer #9 · answered by ? 3 · 0⤊ 0⤋