May 2021 2 254 Report
Do external grants or scholarships lower subsidized loans?

Hi, I'm new here and wasn't sure where to post this so I'm adding it to the education and finance categories. I'm a high school senior who is getting ready for college. I received my financial aid package in December and it shown that I had $3,500 in subsidized loans and $2,000 in unsubsidized loans. Along with other grants and scholarships I had at the time, I was left with $510 to pay out of pocket for the academic year. I'm also employed at my local McDonald's which allows me to receive $2,500 in financial aid from them. With that extra money, I had the idea of removing my unsub loans and $500 of the $510 I owe out of pocket. When I requested to have my unsub loans removed, I was told that with the extra grant money, my sub loan eligibility decreased and whatever was taken from my sub loans were added to my unsub loans. I contacted them with the same question as I have now, and I wanted to get insight from other people to see if anyone knew if it's true that external financial aid like from McDonald's lowers subsidized loan eligibility.

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