Is there a limit to how many loans you can take out?

[bringinit247]

What's the maximum amount of loans through the federal gov't that you can take out if you are in medical school? Is the limit less if you are in pharmacy school? Could you theoretically take out an infinite amount of loans with a combination of Stafford and private loans? I am looking into a pharmacy school that costs upwards of $20,000 a year, tuition alone, so I am concerned that I will not be able to take out enough loans, even if I wanted to.....

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[mpp]

The maximum limit for all Stafford loans regardless of type of school (undergraduate, graduate, or professional) is $138,500 of which $65,500 can be subsidized loans.

I believe the annual Stafford loan limit for pharmacy school is the same as for medical school: $38,500 per year. The limits for graduate school is $18,500.

Most private lenders will not loan you money above and beyond your school's calculated annual budget which includes tuition, fees, books, and living expenses. There are some lenders that will loan you money above and beyond the school's calculated annual budget but these are more like personal loans and they may require a cosigner and likely will have a high interest rate.

 

[....]

Originally posted by mpp
The maximum limit for all Stafford loans regardless of type of school (undergraduate, graduate, or professional) is $138,500 of which $65,500 can be subsidized loans.

138.5?!
wouldnt it be 38.5 x 4?

 

[mpp]

The $138,500 maximum is for professional schools such as pharmacy. The maximum allowable for allopathic or ostepathic medical schools is $189,125.