Will i have enough Money??

Question

Ok I am going to go back to school very soon. I have 2 years left and my EFC is 15000. My credit is horrible and I have applied for the stafford loans. not sure which i will be able to get subsidized or unsub. Unsub is 5k a year for a total of 10k. I get 6600 for tuiton reimbursment from my employer. and place I can find out if I will get the subsidized or not and I cannot get a cosigner

Answer 1

An EFC of 15000 is quite high. I don't have the EFC table in front of me, but an EFC of 15000 suggests a family income level in excess of $80,000.

Unfortunately, eligibility for subsidized Stafford loans is based on the calculated EFC score, as eligibility is based on financial need.

Eligibility for unsubsidized Stafford loans is not based on financial need.

The good news, if there is any, is that the maximum amount of eligibility for an unsubsidized loan for independent 3rd and 4th year students has gone up to $7000 this year.

Check with your financial aid office for the latest information. I hope that helped.