Additional Information For Parent Plus Loan: Fill & Download for Free

No! :) Assuming that you have been admitted to the institutions you sent FAFSA to, you need to follow up with each office and ask the following questions:Have you received my 2017-18 FAFSA?Do you need additional forms or information—if so what?Are there forms or information I need to complete to accept any part of my aid package or to receive any work study, state aid, or scholarships?How do I accepf my direct loans?What is a Parent PLUS loan? How does my parents apply for this? What happens if they are denied?What private/alternative loans are available to me? Bow do these work?Is there anything else I need to know or to do?

TL;DR — Yes.Now things you'll want to do.Send your FAFSA information to OSU now. Log into your FAFSA portal and add them to your list of schools that can access your info. This will allow them to look much faster, and package your financial aid sooner.As soon as you know you have been accepted, and you are sure you are not going back to CSU, unenroll yourself in courses for the fall. You should also make sure that cancelling your enrollment will automatically notify CSU's Financial Aid Office.Now, you will qualify for the same amount of Pell Grant from OSU that you did from CSU, as that is based on what you and your family can pay, according to the Department of Education.As far as the OCOG, I am assuming you are referring to the Oklahoma College Opportunity Grant. You'll need to speak with someone at OSU about that one…. I'd guess you'll have access.Loans, however, could vary significantly. It sounds like you may have a much larger share to pay if you go to OSU. The amount you can take out in Subsidized and Unsubsidized loans will be capped by the government. As a Junior, you could be able to take as much as $5,500 in Subsidized and an additional $2,000 as Unsubsidized. This totals $7,500.Remaining amounts can be paid for (typically) in monthly payments over the course of a year, cans be put into Parent PLUS loans, or you can take additional private student loans.Obviously the payment plan is best, but that assumes you and/or your parents have the money.Parent PLUS loans are a reasonable option, but you must know that repayment begins like a normal loan: at time of dispersement. That means that unlike the Federal loans, your parents will need to make a minimum payment starting in September or October (assuming some loan funds are sent in August). The interest amount on these loans will likely be lower than other private loans as well.Something to note: if your parents are denied PLUS loans because of credit worthiness issues, the cap on the Sub/Unsubscribe students loans will be lifted and you can take out up to the cost of attendance under your name.Private loans should be a last resort. Personally I had to take out a private loan one year, and have had no issues, but I know rates can be outrageous. If you have to go this route, check with any banking institution you currently use, local credit unions, and even OSU to see what rates are out there, what the repayment policies are, and if you can get discounts for paying on time, with an automatic withdrawal, etc.I think I've covered everything. Comment if you need clarification or want additional information!

How much student loans do I need?Instead of asking “How much student loans can I get?” consider how much you really need.The answer to this question is going to be different for each individual. Depending on your school’s tuition, room and board, books, and living costs, your college expenses could differ wildly from someone else’s. CollegeBoard’s tool to calculate how much college will cost. Student loans aren’t limitless. The maximum amount you can borrow depends on factors including whether they’re federal or private loans and your year in school. Undergraduates can borrow up to $12,500 annually and $57,500 total in federal student loans. Graduate students can borrow up to $20,500 annually and $138,500 total. But just because you can borrow that much doesn’t mean you should. To keep higher education affordable, calculate how much you should borrow for college based on your expected future earnings and aim to keep your student borrowing below that amount.You can also borrow less if you get grants, scholarships, and other student aid that doesn’t have to be repaid. The FAFSA4Caster tool can help you estimate how much federal aid you’re likely to receive, and how much you’ll have to finance with loans.How Much Money You Can BorrowThere are two types of student loans available—federal and private. It is best to maximize the amount of money borrowed through federal student loans first before turning to private lenders. Current federal student loan lending limits are illustrated in the graph below, with a description to follow:Federal student loan limitsThe first type of loan that students should consider is federal student loans, which are offered through and guaranteed through the Direct Loan Program. This program offers four types of Direct Loans, and caps how much you can borrow with each under the following rules:Annual limits: The maximum amount of that the borrower can take out in an academic year.Aggregate limits: The maximum cumulative amount that a borrower can borrow in student loans.Cost of attendance: In addition to annual and aggregate limits, the federal government also limits loans by your costs. It will not allow borrowers to take out more student loans than their college program costs.How much student loans you can get, specifically, will vary by your student status. For example, the Direct Loan program lends less to students who are dependents (per FAFSA guidelines), or who are in their first or second year of college. For independent students and upperclassman, the borrowing limits are higher.Here are the federal student loan limits for different types of Direct Loans.Type of federal student loanWho can get this loan?Annual loan limitAggregate limitDirect Subsidized LoansUndergrads with demonstrated financial need$3,500 for freshmen, up to $5,500 for upperclassmen$23,000Direct Unsubsidized Loans*Undergrads$5,500 for dependent freshmen, up to $12,500 for independent upperclassmen$57,500Direct Unsubsidized Loans* (graduate students)Graduate and professional students$20,500$138,500PLUS LoansGraduate and professional students, and parents of undergraduatesCost of attendance (after all other student aid is applied)NoneTo access these federal student loans, you’ll need to file a FAFSA. The colleges you’ve applied to use your FAFSA information to evaluate your need and eligibility for federal student aid, including loans. Next, these colleges will send you financial aid award letters outlining what kinds of aid you can get.So as you want to know how much student loans you can get, pay attention to this letter. It will list the types and amounts of federal student loans you’re being offered.Private student loan limitsPrivate student loans are offered by banks and lenders directly to students and their parents. They aren’t part of the federal government’s programs, so they won’t have the same rules for how much student loans you can get.This can actually be good news for students who have hit their federal student loan limits and still have costs to cover. For instance, if you go to a more expensive university and pay a higher tuition, those federal student loans won’t go as far. In these cases, private student loans can help to cover any leftover costs.What you can borrow with private student loans will also vary by lender, as each bank will have its own lending rules. Here’s what private lenders will look at when deciding on your student loan amount:Lenders’ limits or guidelines: Each bank or lender will have its own limits on annual borrowing, while others may just have a certain maximum yearly amount you can borrow. Citizens Bank’s private student loans, for example, are limited at $100,000 for undergraduates.Credit qualifications: Lenders might limit student loan amounts based on your qualifications for a loan, too. You’ll need good credit to get a private student loan, for example. If you do not have any credit history you’ll likely need a parent or trusted adult cosign the loan for you.Education and employment: Private lenders might also limit loan amounts to what they determine will be affordable. To figure this out, they might look at details such as the type of degree you’re earning, and your cosigner’s income.Cost of attendance: Lastly, most private lenders will also consider your cost of attendance when deciding how much student loans you can get from them. Many will offer financing of up to 100% of your cost of attendance, but few private lenders will let you borrow more than what your program costs.