Question by Looking forward to my Rainbow: How do they figure up how much you will receive in student loans?
I am getting a pell grant, but it only covers a portion of the cost. I was also told that I may qualify for student loans. How do they determine how much money you will receive in student loans?
What is subsidized and unsubsidized?
Best answer:
Answer by swhiting2006
Student loans depend on the year of school you are in, freshman, sophomore, junior, senior. They are not credit or income based.
Freshman 0-25 credits $ 3,500 in subsidizes $ 6,000 unsubsidized
Sophomore 24-47 credits $ 4,500 in sub $ 6,00 unsub
Junior- 48+ credits $ 5,500 in sub $ 7,000 unsub
BA degree $ 8,500 sub and 12,000 unsub.
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