If I don't accept some of the stafford student loans offered to me, do they transfer over to next year.?

Question

I only accepted the pell grant and the subsidized loans they offered me this year. If I didn't accept the rest of the loans offered to me (I didn't) then are they still available for acceptance next school year? The reason I want to know is that I for-see needing more than the pell grant and loan amount offered to me next year.

Answer 1

No. Federal student aid is offered only for one award year, so your current loans can't be transferred over to the next year. However, if you complete the FAFSA for the next year, you will be offered new loans and you can accept or decline those. This may actually work to your advantage because the amount you will be offered increases as you progress to a higher grade level.

Answer 2

No, your loans do not transfer. If you want Stafford loans next year, you will have to reapply, and there's an annual limit how much money you can get from Stafford loans, but declining part of the loan this year won't prevent you from getting them next year.

Answer 3

no they do not.