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Whats the Max loan total?

Discussion in 'Financial Aid' started by Wifty, Jun 7, 2002.

  1. Wifty

    Wifty Eccentrically Silly Moderator Emeritus 7+ Year Member

    335
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    Oct 2, 2001
    Jefferson City, MO
    I am trying to find a link somewhere that tells the max loan total we can get in various stafford loans.
    I thought they upped it to about 180,000 but hubbies financial aid office in undergrad, just said it was 130,000.

    Anyone have the info or link?

    Thanks!

    Wifty
     
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  3. Wifty

    Wifty Eccentrically Silly Moderator Emeritus 7+ Year Member

    335
    0
    Oct 2, 2001
    Jefferson City, MO
    Never mind....I found the link with the info.
    In case anyone else is curious about your total loans available for stafford....here is the link:

    <a href="http://www.nowloans.org/doloans1.htm" target="_blank">http://www.nowloans.org/doloans1.htm</a>

    Ugh! So much money! Oh well...onward and upward....

    Rebecca
     
  4. mpp

    mpp SDN Moderator Moderator Emeritus 10+ Year Member

    3,398
    15
    Jan 17, 2001
    Portland, OR
    According to the <a href="http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/index.html" target="_blank">Student Guide</a> from the U.S. Department of education the total amount of allowable outstanding Stafford loans for a professional student is $138,500.

    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">
    Generally, the total debt you can have outstanding from all Stafford Loans combined is

    $23,000 as a dependent undergraduate student.
    $46,000 as an independent undergraduate student (only $23,000 of this amount may be in subsidized loans).
    $138,500 as a graduate or professional student (only $65,500 of this amount may be in subsidized loans). The graduate debt limit includes any Stafford Loans received for undergraduate study.</font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">
     
  5. Wifty

    Wifty Eccentrically Silly Moderator Emeritus 7+ Year Member

    335
    0
    Oct 2, 2001
    Jefferson City, MO
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by mpp:
    <strong>According to the <a href="http://www.ed.gov/prog_info/SFA/StudentGuide/2002-3/index.html" target="_blank">Student Guide</a> from the U.S. Department of education the total amount of allowable outstanding Stafford loans for a professional student is $138,500.
    </strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">Hmmm....thanks mpp!
    There is something askew though since the amount on the NOWloans site says that the total we can borrow is 189,125 for both staffords together.
    They DO have other programs as having the lower limits, but the higher for med students.

    Ugh....the money stuff is the one part I don't like thinking about!

    wifty
     
  6. Dr JPH

    Dr JPH Banned Banned 10+ Year Member

    5,910
    29
    Feb 4, 2000
    I always thought that that maximum a medical student could loan (stafford) was $183,000.00. That includes undergraduate as well as medical school.

    That # was probably on the website that you linked, but I'm too lazy to check it out.

    <img border="0" title="" alt="[Wink]" src="wink.gif" />
     
  7. LoanGrl

    LoanGrl Member 7+ Year Member

    63
    0
    Jan 8, 2002
    Kirksville, MO
    Wifty is right, the Stafford loan limit for graduate HEALTH professions is $189,125 . The loan limits for other graduate professions is $138,500. Two totally separate things. Of the 189k, no more than $65,500 can be subsidized. The overall aggregate limits (Federal and alternative loans combined)is 200k without a co-borrower. That means the maximum you can borrow is 200k unless you have a co-borrower on your alternative loans. Hope that helps clear things up! <img border="0" title="" alt="[Wink]" src="wink.gif" />
     
  8. Dr JPH

    Dr JPH Banned Banned 10+ Year Member

    5,910
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    Feb 4, 2000
    $189,125.00

    That's what I meant.

    <img border="0" title="" alt="[Wink]" src="wink.gif" />
     

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