<p>My son attends a college that states they are “dedicated to meeting your full demonstrated financial need.” He is a 2nd year student this fall. Our aid package for the upcoming school year was slightly less favorable than last year, even though our FAFSA showed an EFC of $3900 less than last year. Last year’s award was in-line with meeting demonstrated need as shown on the FAFSA. We contacted the school, and they said that they recognized the error and would revise the award. The revision came back with an additional $1000 of aid from the college and the option of a $2000 Unsubsidized Stafford Loan. Son had the full Subsidized Stafford loan last year and again this year.</p>
<p>Since the Unsubsidized Stafford is not dependent on financial need, is our college really meeting full demonstrated need? Should we ask them to take a look at it again?</p>
<p>It never hurts to ask them the question outright. They are unlikely to take any money away at this point, and admissions is already a done deed.</p>
<p>Many schools, even full need ones expect the student to take an increasing responsibility for the costs each year. In recognition of this, the Stafford loan limits increase each year as well. as you can see. Many also expect the student to earn more during the summer, maybe take a job over the school year. </p>
<p>Stafford loans are considered part of the financial aid package as are any loans offered to the students without co signers under most standards. PLUS and outside loans are not. When you look at the College Board, USNEWS and some other standard reports that give you financial aid numbers and percentages, that is how they report the student aid.</p>
<p>Thanks for the perspective. Son does have work-study as part of his package, and he does work during the summer.</p>
<p>I don’t really have a problem with the subsidized Stafford being part of the package, but it is pretty frustrating that the unsubsidized Stafford loan can be considered part of the package.</p>
<p>I think it is unfair since that loan is available to most all students and can be used to cover the EFC for those who don’t have it in their packages. But that is the way it is done as a standard. It’s also unfair that those who don’t get work study can get a part time job to meet EFC.</p>