Private Student Loan

[hales1120]

Has anyone had any experience taking out a private student loan above their cost of attendance? My school reduced financial aid (went from a 10 month to 9 month schedule) and I’m already maxed out on my government loans. I’m now worried about living expenses (I live downtown in a major city)

Thanks!

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[Dantes]

Correct me if I'm wrong, but I think after the housing/loan crisis last decade private lenders no longer let students borrow above their COA. However, federal loans aren't maxed out if you qualified for Grad PLUS. Depending on your school's flexibility, you should be able to take out more in PLUS loans if you have proof of additional expenses. Some places more generous than others with this unfortunately.

 

[Schwifty]

Depending on your school's flexibility, you should be able to take out more in PLUS loans if you have proof of additional expenses. Some places more generous than others with this unfortunately.

I second this. Talk to your financial aid office about your situation and bring proof of expenses (rent, car/transportation, food, etc.) and see if they can increase your PLUS loan.