Wben do I apply for private loans for college? and is there a limit to the dollar amount I can take out ?

Answer 1

Before you start. You simply contact lenders (BOA, Wachovia, Sallie Mae, etc.) and see who has the best private student loans. The limit will depend on your credit score because private loans are based on credit.

You can also visit http://www.fafsa.ed.gov to apply for federal loans, which typically have better interest rates and grace periods.