Denied Perkins Loan

mom2collegekids
Tue, 14 Apr 2015 01:45:18 +0000

Since Perkins loans are limited and are given out “first come, first serve” , and often to those with low EFCs, it is likely that by the time your verification was complete, the school was out of Perkins loans.

That said, are you concerned about the amount of loans you and your H are accumulating? You both already qualify for “independent” level loans, which are $9500 - 12,500 per year (for EACH of you). So, that would suggest that you’re borrowing $20k+ per year already, PLUS whatever Perkins Loans your H was given.

It sounds like the two of you could easily end up with $100k or more in loans!

What year in college are you and your H? How much have you both borrowed so far? What are your career goals?

You have very good stats but they don’t matter for this issue.