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# FAFSA - stafford loan - only \$20,000 ?????

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Intern
Joined: 29 Aug 2012
Posts: 23

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FAFSA - stafford loan - only \$20,000 ????? [#permalink]

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14 Jan 2013, 17:29
Just fill out my fafsa today (us citizen)

At the end, it tells me that i might me eligible for the stafford loan for ONLY \$20,000. Is it normal?????

Can i get other loans to cover the rest of the tuition and living expensses???

If so, do those loan also covers international schools?

Thanks guys!!!

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Senior Manager
Joined: 29 Aug 2012
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Location: United States (WA)
Re: FAFSA - stafford loan - only \$20,000 ????? [#permalink]

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15 Jan 2013, 10:20
Stafford loans are limited to a maximum of \$20,500:

http://studentaid.ed.gov/types/loans/su ... subsidized

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Intern
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Re: FAFSA - stafford loan - only \$20,000 ????? [#permalink]

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18 Jan 2013, 14:36
packet82 wrote:
Stafford loans are limited to a maximum of \$20,500:

http://studentaid.ed.gov/types/loans/su ... subsidized

So considering no scholarship \$, we'll need to find private loans to fill in the gap?

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VP
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Re: FAFSA - stafford loan - only \$20,000 ????? [#permalink]

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18 Jan 2013, 17:34
Grad Plus loans can make up the rest of the gap to the student budget. You may find a better rate with private loans though.
_________________

The Brain Dump - From Low GPA to Top MBA (Updated September 1, 2013) - A Few of My Favorite Things--> http://cheetarah1980.blogspot.com

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Current Student
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Re: FAFSA - stafford loan - only \$20,000 ????? [#permalink]

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19 Jan 2013, 09:11
cheetarah1980 wrote:
Grad Plus loans can make up the rest of the gap to the student budget. You may find a better rate with private loans though.

You can find a better rate with private loans but in many cases they are variable rate instead of fixed rate so beware of the fine print. Also, the Grad Plus loans should have similar repayment clauses if you have low/no income for some reason upon graduation. Most private lenders give you no options, payments start as soon as you graduate and don't stop until they are completely paid off. Personally I'm considering the Grad Plus loans even though they are a higher rate.

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Re: FAFSA - stafford loan - only \$20,000 ?????   [#permalink] 19 Jan 2013, 09:11
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