A few days ago
Do scholarships affect stafford loan?
how & why?
Top 3 Answers
A few days ago
Favorite Answer
It depends on how much you receive for your scholarship. Every student has a Cost of Attendance that takes into consideration tuition, room and board, books, transportation and other necessities to attend classes. Your financial aid office can tell you what your Cost of Attendance (COA) is but the amount of all your aid can not go over this COA or they will reduce either your loan, or your any grant.
Hope this helps!
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A few days ago
Only in the sense that they will reduce the amount that you need to borrow to pay for school. They do not affect your eligibility for a Stafford loan, as almost everyone is eligible for a Stafford.
Remember to borrow only what you absolutely need, as you will have to pay it back (unlike scholarships and grants).
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A few days ago
Depending on your college yes and no,
stafford loan creditors usually look at how much you need to pay to go to the school, to determin how much they will lend you, some dont take it into effect I would call around to a couple different lenders and ask them.
Sallie mae, Wells Fargo, get a list from your financial aide office.
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