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if i max out my student loans going for my associates degree, can i still get loans when i start my bachelors? I have attended school for 3 years full time and have 80 credit hours and finally graduated. I have maxed out my loans allowable for my associates and am trying to go to school for my bachelors. Will i still be allowed to get loans for my bachelors or am i on my own? I graduated high honors and currently recieve scholorships as well, but they told me I may lose those as well.
By Spell Posted on 05/05/10 Total Answers 2
Answers-
It depends, there are loan limits. If you exceeded amounts in unsubsidzed or subsidzed loans, then you may not qualify for any more loans OR federal/state aid until you pay it down. What are the limits? Speak with your financial aid office, they can tell you if you exceeded the amounts. However, you can only take up out some much PER YEAR, and so much in a LIFETIME.
Answer by : trh2000_2000 On Date 2010-05-06 04:45:12

If you've reached the lifetime limit, then you will not be eligible. Financial aid will cover 150% of needed credit hours - so, if a Bachelor's degree requires 125 credits, then financial aid will pay for 187.5 credit hours. The lifetime limits for stafford loans for dependent students is 31,000 for an undergraduate degree. As long as you haven't spent this (which you shouldn't since there are also yearly limits) you will be eligible for more funding for your bachelor's degree.
Answer by : spalmer On Date 2010-05-06 05:59:06

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