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Sheila asked:
How much does the amount you can borrow increase, in both subsidized and unsubsidized, from Freshman to Sophmore years?
Sphere: Related ContentHow much does the amount you can borrow increase, in both subsidized and unsubsidized, from Freshman to Sophmore years?
Tags: Freshman, Stafford Loans
July 10th, 2008 at 8:50 pm
The max you can borrow per year as a dependent:
Fresh 3,500
Soph 4,500
Jr 5,500
Sr 5,500
As a an independent:
Fresh 7,500
Soph 8,500
Jr 10,500
Sr 10,500
Here is the source. (page 11)
July 13th, 2008 at 4:05 pm
When it comes to the financial aid process, people often ask “Where do I begin?” We’re here to help and guide you throughout this process. This page outlines the steps to applying for a Stafford Loan. Basic Stafford Loan Requirements are, You must have submitted a FAFSA. For subsidized Stafford Loans, you must have financial need as determined by your schoolbe sure to include the school’s FAFSA code (or prospective schools, if you are a high school student) to ensure that the results are sent to your school’s financial aid office.
July 14th, 2008 at 8:37 am
The freshman dependent max is 3500 and for a sophmore it is 4500. The additional unsub for independent students (or dep. with the PLUS denial) is $4000 both years.
Remember, to be considered a sophmore for stafford loan purposes, you must have completed 30 credit hours prior to the start of the fall 08 semester. If you attened full-time this year and only took 12 credit hours each semester, that would give you 24 and you will only be eligible for the freshman amount for 2008-2009. You may be able to take summer classes to reach your 30 if you need to.
(also sub. and unsub are not determined by your grade level, they are determined by your need. Every freshman and sophomore are not eligible for a subsidized loan)
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