How much money can I get for student Loans?

Question

Does anyone know how much money I might quilfy for student loans.. I have good credit , but not alot of history and I want to quit my job and go to school full time. I am only 20

Answer 1

depends.

fill out the FAFSA online at fafsa.ed.gov. and submit to the schools you are looking at. Depending on what funds they have available, what you are eligible for will determine the package you get. People usually are eligible for more than they think!

Answer 2

Without knowing more about you personally, there is no way to know exactly what you can qualify for. Your parents' income and savings, your own income and savings, and your credit score all affect the loan financing you can get for school loans.

Assuming you are in the United States, in terms of government loans, there are limits in place but you can also get loans from your school or from private entities.

You should fill out the FAFSA at http://www.fafsa.ed.gov (not at a site that requires you to pay for it). Upon completion, it will tell you what your expected family contribution is. You can definitely get government loans or aid for whatever is left over when that number is subtracted from the total cost of attendance at your school.

As a recommendation, if you want to quit your job and go to school full time, you'll either need to live with your parents (or someone else who will support you like a husband--I do not recommend a girlfriend or boyfriend as that situation is not as permanent) or live on campus, so be sure to apply to a school that has on-campus housing as well as meal plans--this will ensure that you have a roof over your head and food on your plate because the cost of these items is factored into the cost of attendance. It is not as easy to get funding to live off campus.

At age 20, hopefully your debt is not too high, you say you have good credit, so this works to your advantage. If your monthly bills are more than you can support with a part-time job or your savings (the government will expect you to spend most of your savings on school--the best place to put savings if you are a student is in your mattress!), then wait a little while longer before starting school and work to pay them off or save up enough outside of a savings account to be able to make monthly payments on them.

Good luck!

Answer 3

The amount that a bank offers to an individual varies. The factors that the loan companies look at are your loan history, your academic records, your credit, your career choice, the amount of time and money it will take to acheive your career goal. The amount of time (interest) it will take for you t pay back, the area you are interested in going to school, what field, the current market for that field,and so on and so fourth. Remember you are seen as an investment to loan companies, or a savings bond, they pay so much for you now and ten to twenty years from now you will be ready to cash in. A little advice I can offer you is that before you go loan crazy consider applying for financial aid before you go through the loan process. This will pay foor ypur schooling absolutly free, as long as your enrolled as a full time student (12 credit hrs.) and maintain a grade average over 2.0 (I think) In the mean time you can still keep your part time job to help pay your bills or whatever, 12 credit hrs is a very easy load as long as you are taking classes that compliment one another. If you then decide that you want to go foward with the loan process you will at least have established yourself in school and your academic record will be receint and it will show your ambition to complete your goals. Oh yeah thats another thing the loan companies will want full reports over, your career choice and your goals or what you hope to acheive with their money.

Answer 4

Student loans vary and are federally regulated in most cases. You will need to fill out initial paperwork at www.fafsa.com and then you will receive from them in a few weeks an amount that they are offering you. It will depend on what your parents earn, since you can still be claimed as an independent. There is paperwork you can fill out to receive a maximum amount based on need, etc. There are work/study programs, and pell grants that you can apply for in addition to student loans. Pell grants are government money that you do not repay. Call your financial aid office at the university or college you are planning to attend and they will be able to give you more information per your individual status. If you do not attend school full time, you will not get maximum benefits from financial aid. Your credit score will not determine whether or not you can receive financial aid in most cases, so you should be fine with that.

Answer 5

Fill out the FAFSA to see how much subsidized you can qualify for then if you still need more you can get up to 40k from private loans such as http://www.thinkfinancial.com
Good Luck

Answer 6

Here you go: for all students in a degree program
dependent and independent students subsidized loans
freshmen 2625

sophomore 3500

junior and senior 5500

by 0708, thanks to Bush, loans will go up for freshmen and sophomore

unsubsidized
freshmen and sophomore 4,000

junior and senior 5,000