Is FAFSA required to get subsidized loans?

cptofthehouse
Wed, 10 Jul 2019 22:27:45 +0000

The government will process the loans until June 39th of the school year but schools have their own rules and deadlines in processing these loans. They have to be involved, so it’s imperative that you and your student know the individual school’s deadlines. Usually, the money has to be dispensed by the last day of classes and it can be retroactive to the beginning of the school year.

In order to get the subsidized loans, your EFC ( Expected Family Contribution) derived from FAFSa has to to be less than the School’s official Cost of Attendance, minus any other financial aid and merit money offsetting the costs. In order to get the full $6500 as a sophomore on a subsidized basis, you have to have need for at least that amount. (Need = COA-EFC). The subsidy only happens if there is need as defined by FAFSA.