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Can you take out a Direct Plus loan if tuition is already covered?
My tuition is $14,000 for graduate school and I already got approved for $20,500. Before I knew I was receiving that much, I applied for the Direct Plus loan and was approved. Will I still get loan money if my cost of tuition is already covered? Or does it automatically cancel itself?
3 Answers
- ?Lv 77 years ago
You can get aid up to the estimated cost of attendance. This is a number that the school calculates and includes tuition, books, supplies, living expenses, transportation costs, etc. So, you will still get direct loan money as long as it does not exceed the cost of attendance.
- Go with the flowLv 77 years ago
Yes you will.
Remember that loans have to be paid back with interest.
Many students get the loan, but pay it right back when they do the math.
Higher interest rates for these loans.
- Anonymous7 years ago
No. You get the amount you need, not any extra.
