Aid Programs
Subsidized and Unsubsidized Loan Examples
Example 1:
Alberta Gator is a first year dependent undergraduate student. Her cost of attendance for Fall and Spring terms is $17,600. Alberta's expected family contribution (EFC) is $10,000 and her other financial aid (such as grants, scholarships and work study) totals $9,000.
Because Alberta's EFC and other financial Aid exceed her Cost of Attendance, she is not eligible for need-based, Subsidized Loans. She is, however, eligible for an Unsubsidized Loan. The amount she would be awarded would be $5,500. Even though her cost of attendance minus other financial aid is $8,600, she can only receive up to her annual loan maximum (which is $5,500 for a first year dependent undergraduate).
Example 2:
Albert Gator is an independent graduate student. His cost of attendance is $35,306 for Fall and Spring terms. Albert's expected family contribution (EFC) is $0 and his other financial aid totals $12,000. Albert has borrowed $65,500 in Subsidized Loans and $45,000 in Unsubsidized Loans throughout his college career.
Even though Albert appears to be eligible for a Subsidized Loan, he has already borrowed the maximum amount of Subsidized Loans for his lifetime (he has reached his Subsidized aggregate maximum), so we cannot award him any more Subsidized Loans. Albert does have remaining Unsubsidized eligibility, so we would award him $20,500 (his annual loan maximum) in Unsubsidized Loans.
For more information about financial aid disbursement, see "Receiving Aid."