Other than the standard grade level Federal Stafford Loan, what loans are available?
A. Possibly Unsubsidized Stafford Loan, Parent PLUS loan or a Signature Loan. Independent students are eligible for an Unsubsidized additional loan (up to $4,000 for Freshmen and Sophomores and up to $5,000 for Juniors and Seniors). Dependant student are not eligible for this program unless their parents have been denied a PLUS loan. The FAO must receive written notification from the lender that the parents have been denied. In which case, dependent students have the same eligibility as independent students although they must request the additional funds in writing. Parent PLUS loans are taken out by the parents to pay for their child’s school costs. Signature loans can also be taken out to cover the remaining education costs. Often a co-borrower is required for these loans.