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Loan Aggregate Reviews

mfaradaymfaraday 3 replies1 postsRegistered User New Member
I started back pursuing my college degree 5 semesters back. I am totally disabled and only attend part-time. Because of a previous student loan and the added interest from 25 years ago( 1994), I have a high aggregate in total student loans( $33000 total, $15000 subsidized) with 2 semesters remaining just to acquire my Associate's degree. My school recently performed a Loan Aggregate review on me and limited my student loans for the next 2 semesters to $2000 unsubsidized even though my FAFSA approved me for an additional $3000 in subsidized loans for the same 2 semesters because of my high loan aggregate. I currently have a 4.o GPA and have completed 100% of my attempted classes. I am planning on transferring to another college and pursuing my Bachelor's after completing my Associates so I do understand being careful with my loan aggregate. However, my cost of going back to college as a disabled person is somewhat greater because I cannot work and provide for other needs that arise as a result of going to college that non-disabled students are able to pay for or are not needed if one is not disabled. While I understand what they are trying to do in limiting my loans, this action will hinder my attempts at finishing my degree. Is there any appeals process for an Aggregate Review finding from a college or am I stuck with their decision? Thanks!
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Replies to: Loan Aggregate Reviews

  • thumper1thumper1 73734 replies3213 postsRegistered User Senior Member
    Since you are disabled, have you contacted your state department of vocational rehabilitation?
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  • mfaradaymfaraday 3 replies1 postsRegistered User New Member
    Yes, not much help for those disabled that choose college over vocational training.
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  • kelsmomkelsmom 15517 replies98 postsRegistered User Senior Member
    edited August 13
    Interest does NOT figure into the aggregate loan amount. If the school is including interest in the aggregate loan review, they are doing it incorrectly.

    Go to nslds.ed.gov & sign in with your FSA ID. Look at Total All Loans - Disbursed Amount (if you have anything under Canceled Amount, subtract that from the disbursed total). That is your aggregate loan amount ... you can add up the sub and unsub separately to get those 2 totals. Post the amounts here & I will explain what you should do next.
    edited August 13
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  • mfaradaymfaraday 3 replies1 postsRegistered User New Member
    My loan totals:
    Direct Stafford unsubsidized- $18000
    Direct Stafford subsidized- $11500
    Direct Consolidated subsidized- $5522
    Total minus outstanding interest $35022
    Any advice would be greatly appreciated. Thanks!
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  • kelsmomkelsmom 15517 replies98 postsRegistered User Senior Member
    edited August 14
    The total amount you can borrow (subsidized + unsubsidized) as an undergraduate is $57,500 (of which up to $23,000 may be subsidized). Your remaining subsidized eligibility is $23,000-$11,500 (subsidized borrowed to date)=$11,500 (but you are limited to how much can be subsidized in a given year). Your remaining loan eligibility (subsidized + unsubsidized) is $57,500 - $29,500 (subsidized + unsubsidized borrowed to date) = $28,000 (but you are limited to a certain amount annually based on your class standing - freshman $9,500 - of which up to $3500 may be subsidized; sophomore $10,500 - of which up to $3=4500 may be subsidized; junior/senior $12,500 - of which up to $5500 may be subsidized).

    The financial aid staff member who reviewed your loans is incorrectly including interest. Please contact the school and ask for a review of your loans.
    edited August 14
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  • mfaradaymfaraday 3 replies1 postsRegistered User New Member
    Thanks for the information. I'll contact Financial Aid and review my loan information. Again thanks!
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