Can I borrow the maximum on a Stafford loan for just the spring semester?

Question

I will not be attending school the fall 2006-2007 semester, so can I borrow the total yearly amount (for fall 2006 and spring 2007) to be disbursed in the spring?

Answer 1

I'm almost positive that you cannot do that if you are not enrolled for the fall semester. 99.9% positive ... the only way would be if you enroll until your loans go through. I worked at a university financial aid office for 3 years as an undergrad, though, and I know that you could get declined or reduced for future student loans if you make a habit out of it. Some schools even have little 'rules' in place to make it almost impossible.

Answer 2

you've very solid solutions right here. yet in precis: do not do the private Sallie Mae Signature personal loan. It would not sound like you want it. deepest loans are evil and substandard besides. It also would not sound like you want the Unsubsidized Stafford personal loan both.... you'd be responsible for paying the interest on that one if you're in college, and considering you've a provide and owe purely sixty six.00 after that imagine about this.... Take your provide and your sponsored Stafford personal loan for 3,500 (or more beneficial effectual yet, shrink the quantity right down to at least one thousand or so) to circumvent funds and supply you sufficient for gas) and grit your teeth once you signal your call to the private loan software because you should pay that back no count number what.

Answer 3

A subsidized stafford loan is interest free until you graduate. Adjusted to inflation, you actually profit on this borrowed money. Borrow as much as you can every time. Even if you only get a tenth of a percent interest rate on a savings/checking account, you're making free money. Borrow every cent possible and pay it back later when you get a good job. Like me! I can't imagine how poorly I would have lived without my stafford loans. I probably wouldn't have gotten through school. Now that I'm out I make...enough. So yeah I can pay it off easily. Borrow borrow borrow!

Answer 4

The maximum amount on any loan is divided into two semesters anyway. Say for example your total loan amount is $4,000. You will get half in the fall and the other half in the spring, but you can't get the full $4,000 just for one semester.

Answer 5

That will depend on different factors that need to be determined by the college you are attending. In most cases the answer to this would be no. You would only be eligible of the amount you were awarded for the spring semester.

For more information on this please check on the following sources or contact your college's financial aid office for more specific information

Answer 6

Absolutely. Just be sure that's what you want to do because you have to pay it all back plus interest.

Answer 7

Don't do it, you'll spend forever paying it off and then you will be depressed!..

Answer 8

yep

Answer 9

yeah- but you will have to pay it back

Answer 10

try it man.