I am attending spring semester this year only at a community college and all the cost including books in covered by my pell grant so i don’t need any of the student loans but i am worried that if reject the student loan i might not get it next year or in the future. Do they look at previous years to give you financial aid in the future or they dont care at all? I think i might loans in the future
The loans are per year and you have to reapply for them (FAFSA) every year. You cannot get the loans from the year before in the following year, but you can get the loans for that year, at the amount for your year in school. If you don’t take the $5500 in loans for your freshman year in 2017-18, they are not available in your sophomore year. Your sophomore year loans ($6500) will be available.
Were you offered a subsidized loan? Because you may want to take it anyway but SAVE it for a future year, though only if you won’t be tempted to spend it on things other than your education.
If ALL the costs are covered by a Pell Grant…how would this student still be eligible for a subsidized loan?
i mean tuition and books i will live with parents so i don’t need to worry about food or housing or a transportation so that all is covered
Your school should have a cost of attendance for students who commute from home. Find out what that is.
Imdont believe you can receive need based aid in excess of the cost of attendance. But that cost usually includes costs associated with commuting.
As noted above…you can still get the loan in subsequent years. Not taking it this year doesn’t matter.
ok will check it out