Financial Aid @ 2 schools

kelsmom
Sun, 04 Nov 2012 15:37:20 +0000

The loan limit is tied to year in school for any undergraduate program - so I assume you were awarded $6500 for the current year at the school where you are a sophomore. If you are only going to be a freshman at the new school, you will only be eligible for the difference between $5500 and whatever you have received at your current school so far this year.

Some schools use a method called Borrower Based Aid Year for determining loan amounts, and you might be eligible for a larger loan at the new school using that method … you would have to ask to find out if the new school uses BBAY. I have never worked at a school that uses this method, so I am not familiar with exactly how it works.