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[Raj Mudumbai]

My son's FAFSA was filed, but errors were flagged for mismatch in
last name on the SAR report - this will require the name to be corrected
on the social sec card. This could delay the receipt of report
at some private colleges where the deadline has already passed and
we will not meet the priority date for some. Our EFC is likely to be
to be high based on FAFSA estimates, with a low/no chance of getting
need based aid. But I would certainly need some loans to meet the costs
for undergraduate education. Will the delay have any effect in the
availability of low /lower interest loans or other forms of aid ? Are there
any sources educational loans other than Federal aid for 20K-30K, that
bear a low rate of interest ?

Any help will be appreciated.

Raja M

[Steve Blank]

Even if late, the student will still be eligible for a Stafford loan -
subsidized or unsubsidized - for $2,625.

Usually the best route for borrowing beyond that is for the parents to
take a PLUS loan (Parent Loan for Undergraduate Student). The
applications are available from the colleges and many local banks. PLUS
interest rates are reset each July 1, current rate is 4.22%.

--
Steven B. Blank
College Financial Aid Consultants
29 Ives Hill Court
Cheshire, CT 06410
(203)250-7761

Raj Mudumbai wrote: