Stafford Loan Question

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Stafford Loan Question

Postby lmaxwell430 » Thu Jan 03, 2013 1:15 pm

Hi,

I was approved for a Pell Grant and a $9500 a year Stafford Loan when I filled out my FAFSA; this was for Fall 2012 and Spring 2013 semesters. I realize that these amounts are typically divided by two and disbursed twice a year. However, I did not attend school in Fall 2012, but I am registering for Spring 2013 on Monday. If I apply for my full amount of sub and unsub Stafford Loan, will I receive the whole $9500, or will I only get half, even though I did not attend last semester?

Thanks in advance.
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Re: Stafford Loan Question

Postby iGrad-FinLit » Fri Apr 05, 2013 6:52 pm

Registering for only one out of the two semesters should not affect the amount you are eligible to receive, unless the total amount awarded ($9500 plus Pell and any other aid received) is higher than the total cost of attendance for the one semester. If that is the case, then the max you can take is the total cost of attendance. If not, you should still be eligible to receive the full amount, but every school does things a little bit differently so make sure that you communicate with the financial aid office.

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