<p>since there will be no loans next year. where will the $4000 go to?</p>
<p>woah, woah. There are still loans. If, for example, your family can’t make the expected contribution, they need to take loans. It’s just that they’re reduced.</p>
<p>In 2008-2009, loans will be replaced with grants for families with income less than $60,000. In 2009, loans will be replaced with grants for families with income less than $75,000</p>
<p>So bascially, if Cornell issued you a loan for $4000, it will be a grant instead if you fall into the income bracket.</p>
<p>but if my family income is less than 60,000, i will have no loans to begin with right? Can I request to take out more loans?</p>