Money left for school

[spideyman44]

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I wasn't exactly sure where to post this since I'm a non-trad but it deals with financial aid.

Anyways, is there somewhere I can check online to see if I have federal money available to me to use for school when I begin taking my pre-reqs? I've already earned my bachelor's so I don't know if that means I am ineligible for financial aid even though I'll enrolled to obtain a second bachelor's. I want to make sure I exhaust every means possible before I start looking at private loans.

 

[Zen]

Hi,

You can check your loan status at http://www.nslds.ed.gov/nslds_SA/. I believe there is a cap of about $46,000 for undergrad study. You must however, be enrolled in a degree granting program (doesn't matter if it's your second degree) to qualify for loans. However, second degree students don't qualify for the govermental grants (TAP?), but you do qualify for loans.

The federal loans are not based on your credit history, so as long as you haven't reached the cap, and are enrolled in at least 6 credits, you qualify. Private loans are another issue and are credit based and also have higher interest rates. Ostensibly you can qualify for both federal and private loans.

Hope this helps🙂

 

[spideyman44]

Thank you that helps a lot. I think I might have enough money to pay out of pocket for courses, especially when my finishes law school, but it'd be nice to know I have other resources to use besides private loans. Thanks for the link. I'm not that close to the limit so I should be able to get something.