How much money am I allowed to get from student loans?

Question

What is it based on and how often can you take out the loans?

Answer 1

Go to this website to download the guide to student loans. It'll give you the limits and things like that.

http://studentaid.ed.gov/students/publications/student_guide/index.html

Student loans are usually distributed twice during the academic year (fall and spring semesters) and twice during the summer term. Generally, when the school knows that you're getting student loan funds they won't charge you late fees if the money isn't distributed by their usual deadline. They'll give you any money that they receive in excess of what you owe them.

Answer 2

Pretty much the maximum would be the amount of your tuition and room and board. You couldnt borrow more than your costs.

But you should look for a question and answers that was on here a few days ago. A guy finished school and had $90,000 in school loans! -- He had a half-decent job - he was making $33,000 but how is he supposed to pay off those loans! It is going to take him until he is 50 at least!!!!!

If you don't have money and your family cant support you for some reason, you should consider going part-time, evenings, etc. And you can do your first two years at a community college. They are cheap and usually do a pretty good job. Then if you have everything under control, you can transfer to the State university and finish your degree there. If you do that, even if you have basically NO money, you will wind up not owing too much. What you should NOT do is borrow a pile of money to go to some dream school... it will turn out to be a nightmare instead!

Answer 3

If I recall - the limit was $2,600 for the first 2 years and $5,500 for the last 2 years - this was 1994. Now, the 2nd year limit is $3,500. The website explains all of the above info.

http://www.salliemae.com/get_student_loan/find_student_loan/undergrad_student_loan/compare_student_loans/

Answer 4

Well it dpend how long you have been in school and the type of loan.

Answer 5

depend on your subjest cerdit cost how totally it's have

Answer 6

20000$