subsidized loans in 2012?

[jkml]

The Budget Control Act of 2011 eliminated subsidized loans for graduate students:

http://www.usnews.com/education/bes...13/grad-students-to-lose-federal-loan-subsidy

Is it possible to convince schools to disburse our loans before July 1, 2012? In that case, can we get subsidized loans?

The maximum amount of subsidized loans is only $8500/year anyway--a small fraction of the cost of most programs--but every little bit helps.

 

[Jose T]

I do not think it is possible for graduate students to get subsidized loans in the US anymore, though I could be wrong. I am assuming you are talking about Federal Loans (which used to be subsidized portion + unsubsidized portion and this year only unsubsidized portion). Although the school evaluates your FAFSA, the loans comes from the US Government so the school might not have a whole lot of power over when to disburse.

I've never had my loans disbursed this early, though maybe there is a way to get it done. Good luck.

 

[jkml]

Thanks Jose Thomas. Grad students get cutoff from subsidized federal loans on July 1 of this year. There also used to be a reduction in origination fees for people who re-pay on-time. That will also be eliminated for grad students on July 1.

While we may need to turn to private loans from banks charging exorbitant rates, it's ironic that some of us are aiming to get jobs from those same banks.