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—›Important Information —›You are here —> Name  |
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Get the Facts Before you React!
San Diego State University students will be able to borrow federal student loans and receive financial aid this fall, despite some troubling reports in the media.
Recent developments in the credit markets will not prevent SDSU students or their parents from borrowing through the Federal Direct Loan Programs.
Myths and Facts About 2008 Student Loans Availability
MYTH: Financial aid will not be available to students this fall because troubles in the real estate lending industry have affected student aid.
FACT: Financial aid will be available to students. The credit crunch caused by troubles in the real estate lending industry has no effect on most financial aid including (but not limited to) Pell Grants, Federal Work Study, and education tax benefits.
MYTH: Students won’t be able to get federal student loans due to the credit crunch.
FACT: Students should have no problem getting federal student loans.
MYTH: Students won’t be able to get private or alternative student loans due to the credit crunch.
FACT: Only a few students (some estimate as few as 5%) will have trouble getting private or alternative education loans.
MYTH: Students with too much money don’t qualify for federal student loans.
FACT: Students can borrow federal Direct Loans no matter how much money they have. Needier students are eligible for additional benefits.
MYTH: Students with bad or no credit can’t borrow student loans.
FACT: Students can borrow federal loans even if they have bad credit or no credit.
MYTH: If school costs more than federal loans provide, students have to borrow private loans.
FACT: Federal, state and local governments offer a wide range of financial aid for students. Professionals in the Office of Financial Aid and Scholarships are able to recommend many options including (but not limited to) Federal Perkins and PLUS Loans.
If you have any other questions or concerns about financial aid or student loans contact:
Office of Financial Aid and Scholarships
San Diego State University
www.sdsu.edu/financialaid
(619) 594-6323
