Financial aid time limits?
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Financial aid time limits?

 
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reilauj
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Posted: Wed Sep 01, 2004 6:55 am    Post subject: Financial aid time limits? Reply with quote

My son has been attending a community college for 3 years now and is
almost ready to transfer. He has been receiving state aid which was
recently cut off due to limitations at a 2 year school. He is still
receiving his fed. aid, and it appears he WILL make it, but its going
to be a long haul. Does the Fed aid (FAFSA) have a similar cut off
for aid? This whole thing may take him 5-6 years instead of the
expected 4. He has been a full time student. If fed. aid cuts him off
this will all just have been a waste of time! Should I try to get him
to pull out now? Please advise.

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Woelfe
Guest





Posted: Wed Sep 01, 2004 7:46 am    Post subject: Re: Financial aid time limits? Reply with quote

Cumulative loan limits for undergraduate students. For undergraduate
students:

Dependent-$23,000 between subsidized and unsubsidized Stafford loans
Independent-$46,000 (up to $23,000 may be in subsidized Stafford loans)

The biggest cut-off for aid federally is in regard to loan limits that can
be borrowed via Stafford. If he's a dependent student who can only take up
to 23k in stafford loans.

Mike B

"reilauj" <reilauj@aol.com> wrote in message
news:6e6d9db1.0408311655.2132057e@posting.google.com...
Quote:
My son has been attending a community college for 3 years now and is
almost ready to transfer. He has been receiving state aid which was
recently cut off due to limitations at a 2 year school. He is still
receiving his fed. aid, and it appears he WILL make it, but its going
to be a long haul. Does the Fed aid (FAFSA) have a similar cut off
for aid? This whole thing may take him 5-6 years instead of the
expected 4. He has been a full time student. If fed. aid cuts him off
this will all just have been a waste of time! Should I try to get him
to pull out now? Please advise.
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