Actually its not my opinion and your information is incorrect. You cannot request and amount of subsidized or unsubsidized loan. They are in fact pretty much the same loan except you have to have financial need for a subsidized loan. As an coming freshmen you and noe entitled to a 3500 subsidized loan if you qualify. For it and an additional 2000 insubsidized. If you do not have financial need then the full amount. Either way your loan total loan amount in subsidized or unsubsidized cannot exceed 5500. So to say you can just request a subsidized loan is WRONG. And I work in a financial aid office, so I actually KNOW what I'm saying not voicing an opinion.
Miss Cleopatra_J, show me in my post where I used the word "request". In your haste to be correct, you are now stating that I made an explanation that I never made. I NEVER said anything about request. But, if you want to get technical, an unsubsidized loan is "Not" based on need, so if it is not based on need, and if a student was not able to meet his/her estimated tuition cost...why could a student not "request" an application for an unsubsidized loan and apply for it? I Did, through discover. I believe we have mentioned that you have to have a financial need for a subsidized loan on more than one occassion, however, you are incorrect in your statement of differentiation.
The loans do differ, federal subsidized loans require no interest payments until the completion of school. Unsubsidized loans require interest payments upon issuance of the loan, that's in the MPN. Somehow, my unsubsidized loan exceeded "YOUR" $5,500 limit, it was approved for $6,000. I'm pretty certain there's a different maximum borrowing limit for lower level (frosh $ soph) and upper level students. You know that though, you're in financial aid.
Despite not using the word request, you can "request" an application to apply for an unsubsidized loan, it is not automatically given. To Desire, I have no idea what you're talking about. I've attended 3 colleges and I've never, "directly" after filling out the FAFSA, been told what my "financial" eligibility was. I've received an EFC score, but the application on line explicitly states, "This information will be forwarded to your school to determine your awards eligibility". That is the reason why you enter school codes on the application.
After reading this response cj, I'll go with my "incorrect" information over your "factual" input. And calm down, you're typing a lot of typo's.
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