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Topic: The Fafsa - how much is the typical loan?  (Read 1067 times)

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  • le club de l'autobus blanc!
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The Fafsa - how much is the typical loan?
« on: May 07, 2005, 04:36:10 PM »
Hello,

The I completed the FAFSA, and I'm wondering, how much on average is the award?

My tutiion will be about 9100 pounds, by the way.

Let's take our wigs off in the shopi aisle and fight it out.


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Re: The Fafsa - how much is the typical loan?
« Reply #1 on: May 08, 2005, 10:04:02 PM »
are you undergrad or graduate student?
had a bit of a wobble.


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Re: The Fafsa - how much is the typical loan?
« Reply #2 on: May 08, 2005, 10:17:09 PM »
Undergrad :).

Let's take our wigs off in the shopi aisle and fight it out.


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Re: The Fafsa - how much is the typical loan?
« Reply #3 on: May 09, 2005, 12:04:55 AM »
Hi Sprigged,
The amount of financial aid that you are awarded are based on your cost of attendance minus your expected family contribution; you have to be pretty poor to get grants. The amount of $ you can borrow each year is dependent on your classification:
Freshman can borrow up to $6500/year
Sophs                          up to $7500/year
Juniors and Seniors can borrow up to $10,500/year
You can borrow the full amount each year, the only requirement being that you are a FT student( amts are less for PT) until you reach the undergrad loan limit which is about  $52,000.
These are the amounts for US schools-if you are borrowing $ in the US for a school abroad, I assume that the amounts are the same but I am not certain. Hope this is the info that you are looking for.
Liz

« Last Edit: May 12, 2005, 06:41:26 AM by augie »
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Re: The Fafsa - how much is the typical loan?
« Reply #4 on: May 12, 2005, 01:53:27 AM »
Thank you Augie, that was the help I needed.  :)

Let's take our wigs off in the shopi aisle and fight it out.


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