Follow up on Financial aid adjustments

hsmomstef
Sun, 06 May 2007 22:51:40 +0000

Another thing to watch out for is that many schools (including those that meet 100% need) increase the amount given in loans as the student progresses through school. Stafford Loans start out with a maximum of $3500 for freshman, increases to $4500 for sophomores and junior and seniors have a maximum of $5500 – so students that qualify usually have increasing stafford loans in their packages. Some schools also reserve Perkins Loans for juniors and seniors to replace grant money.

Keep in mind that work-study and loans also meet need. In addition – some schools have a high expectation of summer earnings from students as they progress through school.

for my student, I would rather he get scholarships (as long as the GPA needed to keep them is reasonable) than need-based aid.