So some schools make you pay your EFC out of pocket? Forum

[gens1tb]

I was under the impression EFC was basically used for need-based loans, but did not limit or affect Grad PLUS of unsubsidized stafford loans.

However, my financial aid offer from U Washington lists my efc ($12,000) as 'resources' for the year, and they will not offer me any loans (of any kind) or any aid for more than the COA less that amount, leaving me 'short' quite a bit.


Are there other schools like this?

[Gideon Strumpet]

I was under the impression EFC was basically used for need-based loans, but did not limit or affect Grad PLUS of unsubsidized stafford loans.

Schools sometimes present aid / loan packages in an odd sort of way. Only the Stafford loans and any grants you get will appear in a "financial aid offer." They probably have a separate application you have to fill out for Grad PLUS loans, which they may refer to as "supplemental" or "alternative" loans. You can always borrow up to 100% of the student budget in Grad PLUS loans. Just ask them what form you need to fill out to get the leftover amount covered by PLUS loans.

[gens1tb]

I was under the impression EFC was basically used for need-based loans, but did not limit or affect Grad PLUS of unsubsidized stafford loans.

Schools sometimes present aid / loan packages in an odd sort of way. Only the Stafford loans and any grants you get will appear in a "financial aid offer." They probably have a separate application you have to fill out for Grad PLUS loans, which they may refer to as "supplemental" or "alternative" loans. You can always borrow up to 100% of the student budget in Grad PLUS loans. Just ask them what form you need to fill out to get the leftover amount covered by PLUS loans.

That's the thing, the PLUS loans are listed in the Financial award, and there's no supplemental form that I've found.

[sarahlawg]

UPenn was like this for me...I think the only school I got into that left money for me to pay out of pocket (or through private loans).

[Gideon Strumpet]

That's the thing, the PLUS loans are listed in the Financial award, and there's no supplemental form that I've found.

Call the financial aid office and ask about it. There should not be a restriction on your ability to borrow the full amount in PLUS loans, regardless of calculated EFC.

[swc65]

Some schools do take your EFC out of your loan eligibility when they give you your initial award. However, you can ALWAYS borrow federal loans to cover your EFC.


I am not sure why some schools do this, but I suspect it is to limit unneccesary borrowing. My UG did this.