Loan Amounts: Part-time vs Full-time

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Loan Amounts: Part-time vs Full-time

Postby ruckers » Tue Apr 14, 2009 11:54 am

I have had a heck of a time finding this anywhere else, but does anyone know how much you can borrow if you are only enrolled as a part-time student? I am a grad student and only need 6 hours next Fall and my GTA position was cut by my school, so I can't be considered full-time unless I enroll in another course (which I do not need to graduate). I assume you can borrow smaller amounts of aid if you are only a part-time student.
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Re: Loan Amounts: Part-time vs Full-time

Postby Ms. Stafford » Tue Apr 14, 2009 12:10 pm

hello, for the Stafford loans you can pretty much request whatever amount you want (up to the animal maximum of 22,500 per year for grad students)....however your school can have a policy that only allows you to borrow what is owed to the school...however this is rare for a graduate school...since it is common for you to have other expenses then just the tuition owed to the school. So bottom line is, you need to ask the FAO at your school how much in the Stafford loan you can borrow if you are part time...but from my experience as long as you are not below part time, they don't cut your loan amounts because you aren't full time. let me know how you make out.
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Re: Loan Amounts: Part-time vs Full-time

Postby ruckers » Tue Apr 14, 2009 3:10 pm

Thanks, that definitely makes me breathe a little easier!

I tried to find out from the FAO, but they kind of gave me the run around; I do have an appointment with an actual advisor soon, so that should solve it, but I just wanted to find out myself.

Thanks again.
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