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student loans vs academic market

merlebo02 merlebo02 (New) New

In the state of Mississippi we are able to get in-state tuitin cost when going to out of state schools because Mississippi does not offer the CRNA program. This is a program called the academic common market I believe. Anyways the financial aid office is using the money that I am get from this program towards my student loans (stafford loans). You can only get $20,500 total student loans and putting the academic common market money (the difference b/ out of state and in state tuition cost) with the financial aid money is cutting me out on actual student loan money!!! Any of you guys ever heard of this????

cathys01 specializes in NICU, CVICU.

Schools put a limit on the amount of financial aid you can receive through Stafford Loans. The total amount you can borrow will be the cost of attendance (as decided by the school) minus any other financial aid you receive -- meaning you will still only receive the total cost of attendance.

If you need more, you'll have to go with private loans...

japaho41 specializes in MICU & SICU.

Just make sure that if you are going to be out of state that you prepare for 3 semesters per academic year because at most schools the amount of federal aid that you get will not cover tuition. Save your refunds or specify the exact amount that you will need this will minimize the amount of money that you will have to take out in alternative loans. If you have to take out alternative loans shop around, watch the fees that they can hit you with.

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