High EFC, but want loans!

weenie
Thu, 15 Mar 2007 21:54:09 +0000

I think she will need her summer earnings for spending money. Not too many kids can earn $3500 (the loan amount) PLUS a couple thousand for spending money in a summer.

Here is a good site for info on student loans (in fact, for all financial aid information):

http://www.finaid.org/loans/studentloan.phtml

“Stafford Loans allow dependent undergraduates to borrow up to $3,500 their freshman year (up from $2,625), $4,500 their sophomore year (up from $3,500) and $5,500 for each remaining year.”