Questions about loans for post-bacc student

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Questions about loans for post-bacc student

Postby dana7582 » Sat Dec 08, 2012 8:57 pm

I am applying for a second bachelor's degree (post-bacc) in Medical Laboratory Technology for Fall 2013. I am not sure what financial aid I am eligible for. I emailed the financial aid office with questions but they just confused me. Since I haven't filled out my tax forms and FAFSA (won't be able to until I receive a W2 from my work), the school doesn't have my financial aid information, so I think that is the reason they don't really understand what I am trying to ask.

From my 1st bachelor's degree:
$5,500 Federal Direct Stafford Subsidized Loan
$3,696 Federal Direct Stafford Unsubsidized Loan
$17,370 Stafford Subsidized Loans

Am I still eligible for Subsidized loans? Only Unsubsidized?

On the website it says that the yearly max you can get is $12,500 ($5500 subsidized and $7000 unsubsidized). If I am only eligible for unsubsidized, can I get the whole $12500 unsubsidized, or will I only get $7000?
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Re: Questions about loans for post-bacc student

Postby Aid Whiz » Mon Dec 10, 2012 7:38 am

This depends on your program. Second bachelor's degrees are not eligible for federal aid, but since this is a post-bacc, it may be. Typically for post-bacc programs like this, financial aid is limited to 2 semesters and students can borrow a total of $12,500 in unsubsidized loans only - you will no longer be eligible for Subsidized Stafford loans due to July 1, 2012 regulations.

You can try using the FAFSA4Caster to estimate your aid, otherwise it may be best to sit down with a financial aid administrator to get your program-specific questions answered.
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