Vassar eliminates loans for some

_rentof2
Thu, 13 Mar 2008 14:55:09 +0000

JustAMomOf4, I’m not sure if the Stafford loans are available if a student is having their typical loan expectation being replaced by institutional grant aid. My guess is that, no it wouldn’t since the same level of need would not be present… but I don’t know for sure about that.

There are evidently, though, private loans, some sponsored at low rates by states or even the schools themselves if the student has extra education related financial need, i.e., they need to borrow to buy a laptop, or would like to replace their work-study income with a loan.

If there is zero EFC, and no available assets by the college’s formula of reckoning student resources, then yes, it is my understanding the student at these 100% need/no loans schools will receive a stipend for books (or be allowed to borrow them at no cost), and receive a travel stipend. The student would be expected to do summer work though and contribute, and work-study for personal expenses. Again, though, that is my impression, but I’m no authority.