The effect of need/merit aid on borrowing GradPlus loans Forum

[JamesDean1955]

Couple of quick question for y'all:

1. I was offered need based aid (grants, not merit/need combination award) at a couple of schools so far. Can you still borrow GradPlus up to the full COA in this situation, or are you limited to borrowing COA - need aid = balance you can borrow?

2. Does this change if we are talking about merit aid?

TYIA!

[EvilClinton]

Couple of quick question for y'all:

1. I was offered need based aid (grants, not merit/need combination award) at a couple of schools so far. Can you still borrow GradPlus up to the full COA in this situation, or are you limited to borrowing COA - need aid = balance you can borrow?

2. Does this change if we are talking about merit aid?

TYIA!

Yeah the max for borrowing is always (COA - Grants, Scholarships).

[JamesDean1955]

Couple of quick question for y'all:

1. I was offered need based aid (grants, not merit/need combination award) at a couple of schools so far. Can you still borrow GradPlus up to the full COA in this situation, or are you limited to borrowing COA - need aid = balance you can borrow?

2. Does this change if we are talking about merit aid?

TYIA!

Yeah the max for borrowing is always (COA - Grants, Scholarships).

Gotcha, thanks. It's just annoying that COA is based on a 9-month period, so I might need a little extra.

I'm assuming that alternate loans from private lenders are one's only options if they wanted to borrow more?

[cinephile]

You should be fine. Because the school almost always estimates that you need more $$ for COL than you really do, so as long as you can budget properly, you can save for the summer.

Also, you can get a paid summer job like being an RA. Or get a public interest stipend, most schools have them.

[09042014]

If you get a non paying job, your school probably has a practicum course you take that gives you credit. And then you can get an easy A, and take out cost of living loans.

[JamesDean1955]

Awesome, thanks guys!

DF I see you are back to your old self (tar)

[09042014]

Awesome, thanks guys!

DF I see you are back to your old self (tar)

II forgot I had the new one for so long. I surf tls without avatars on.