Reaching the Limit!

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Reaching the Limit!

Postby JenNurse2010 » Mon Apr 27, 2009 8:31 pm

I currently have over $50,000 in student loans. My questions is, when I hit the limit of the Stafford loans, $57,500, what happens? Do they just cut off my financial aid or is there a way to appeal for more loans? I can't find this information anywhere!
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Re: Reaching the Limit!

Postby Ms. Stafford » Tue Apr 28, 2009 6:16 am

Hi there. When you reach the limit then you will no longer be able to borrow the Stafford loan. You will have to look for other types of loans like a private student loan. If you need more info about these types of loans you can visit: http://www.privatestudentloans.com
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Re: Reaching the Limit!

Postby ajacques » Wed May 13, 2009 6:55 am

I have kind of a follow up question..in regards to life time limit. Lets say I borrow the life time limit of federal student loans for my graduate degree...If I pay it down can I then borrow more?
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Re: Reaching the Limit!

Postby Ms. Stafford » Wed May 13, 2009 10:43 am

Hello, if you pay some off you can borrow up to the maximum amount minus what you still owe.
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