<p>I am wondering about filing a FAFSA for the 09-10 school year. He will not be enrolled in classes but will pay a 2 credit fee to remain enrolled in the school. If I file a FASFA for him but don’t use any of the money (loans) will he still be eligible to file the next year?</p>
<p>My reasoning for filing a FAFSA would be if the co-op for whatever reason would not work out. This past summer he also had a co-op but it ended after 6 weeks as the company is in financial trouble and eliminated 1000 jobs. If I didn’t file the FAFSA he would not be able to take out any loans for the 09-10 year if his co-op did not work out.</p>
<p>The 09-10 year would be his fourth in school so this would be his last year of eligibility for Stafford loans, correct? He cannot take out Stafford loans and we could not take out PLUS loans for a fifth year, is that right?</p>
<p>I hope that this co-op will not fall through but you never know in this economy. It is a company that makes large trucks, some are for the military, some are for the private sector.</p>
No that is not correct. The Stafford loans have an aggregate maximum in $ terms rather than in number of years terms. For instance for a dependent undergrad the cumulative maximum is $31,000. If he gets to the $31,000 then he is not eligible for more Stafford loans. Does not matter if it is his 5th year or 6th year. </p>
<p>The exception would be if he is not making satisfactory academic progress (SAP). There are maximums number hours of attempted credit hours for a program (for instance many schools set the maximum credit hours at 150% of the hours required for a degree - so if a degree requires 120 hours then once a student exceeds 180 hours attempted, including all Ws & Fs, he is not eligible for aid including loans). Also certain GPAs are often required. </p>
<p>Not using loans awarded will not affect his eligibility for the next year.</p>