Question about loans and being able to secure them each year

[Ir3nicus]

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Sorry for the potentially dumb question, but has there ever been a case where a student is part of the way through dental/medical/etc. school and could not secure a loan for the next year? For example, say I'm in D2 and already 150k+ in debt, and I cannot obtain a loan for D3 and now I'm in over my head in debt I cannot re-pay. I searched the web and can't find anyone else concerned about this. Thanks!

 

[Kareful]

u no qualify for fed graduate loans?

 

[BrooklynSmilez]

Im sure private banks would loooovvve to hand out loans to students in school (given ud probably get terrible interest rates)

 

[Likkriue]

Why couldn't you secure a federal loan?
Private banks are hungry for people willing to take student loans, you could use them as a last option.

 

[Chrono-strife]

I think the only way you wouldn't be able to get federal loan is if you have defaulted on one previously.

 

[allantois]

Do you have a pulse?

You'll get all loans you want!

 

[Charles_Darwin]

I think you underestimate how many business/organizations are out there that would like to put you in debt, friendo

 

[whaleofatale]

Sorry for the potentially dumb question, but has there ever been a case where a student is part of the way through dental/medical/etc. school and could not secure a loan for the next year? For example, say I'm in D2 and already 150k+ in debt, and I cannot obtain a loan for D3 and now I'm in over my head in debt I cannot re-pay. I searched the web and can't find anyone else concerned about this. Thanks!

Yes. You must continue to meet the basic eligibility criteria for federal student aid in order to continue receiving Federal Direct Loans during dental school. Additionally, if you are borrowing Grad PLUS, you must continue to not have an adverse credit history. It is quite possible to lose eligibility for funding, though this rarely happens.