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emory advantage- loan replacement grant

McMathMcMath 44 replies19 threads Junior Member
edited April 2009 in Emory University
How does the loan replacement grant work? Is it guaranteed for people below 50k income? What exactly is replaced? (I will be a freshman with 3500 subsidized loans + 2000 unsubsidized loans and about $7000 to pay upfront, rest in grant aid). Do any other colleges do this? Thanks in advance
edited April 2009
3 replies
Post edited by McMath on
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Replies to: emory advantage- loan replacement grant

  • hilsahilsa 2287 replies41 threads- Senior Member
    I have practically the same financial aid package!

    There was a discussion on this before. It's somewhere around this forum.
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  • McMathMcMath 44 replies19 threads Junior Member
    I've searched the Emory forums and found information about the loan cap guarantee, but unfortunately they never discussed how loan replacement grant works in-depth.
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  • motherofminemotherofmine 89 replies8 threads Junior Member
    The loan replacement grant replaces subsidized loans (Perkins & Stafford). So if you are eligible for both loans your replacement grant will be $7,500 for your freshman year.

    If you get the LRG you do not get the Loan Cap Guarantee, LCG, because the Loan Cap Guarantee only covers subsidized loans (which the LRG replaced).

    Neither the LRG or LCG covers family EFC or any gap between EFC & COA.

    Emory advantage is strictly tied to subsidized federal loans.
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