[denverlover]

Bump??

[jenniek]

Originally Posted by denverlover

Bump??

Bump brings the thread to the top so others know it's there and keeps it active. Kind of like bumping a sleeping night shift nurse to keep them awake...........

[kcwolf200]

What's the most anyone has taken out for one year of school to live off of? I will have to move twice through my program and for my first semester, have to help pay for two residences (mine and the one that my wife and child stay in back home). My school said that the max that you can take out for "outside the cost of education loans" is $30K/year.

I understand the school and non school approved loans, but it seems that most people just take out the $30K/year. With the moves I have to make and also wanting to have some money set aside for any unforseen emergencies, I am just wondering how much you can really take out. Thanks.

[jenniek]

Originally Posted by kcwolf200

What's the most anyone has taken out for one year of school to live off of? I will have to move twice through my program and for my first semester, have to help pay for two residences (mine and the one that my wife and child stay in back home). My school said that the max that you can take out for "outside the cost of education loans" is $30K/year.

I understand the school and non school approved loans, but it seems that most people just take out the $30K/year. With the moves I have to make and also wanting to have some money set aside for any unforseen emergencies, I am just wondering how much you can really take out. Thanks.

I believe if you take out a loan that does not need school certification, there is no max depending on your credit rating. I'm sure it has been discussed in this LONG but very helpful thread. Some loans will be sent to your school, others come directly to you. You also want to look if there is a dispersement fee. I currently have my stafford loan with Wells Fargo, and they charge for dispersement, but will be looking for a different institution for my loan this year.
Jennie

[Miss Von]

I believe you can get more than that. I did the Sallie Mae Tuition Answer loan..I believe that is the name of it. The max itself is $40,000 a year so that is more than $30,000. Plus the school has NO CLUE I have it because they sent the check to me. With that being said I was able to get some money from a Stafford Loan also. So you can get more money than that, but if they all go to the school first then there is a cap. If that was all you could get people wouldn't get through CRNA,med, or law school etc.

[sdo4]

I may be wrong because I am very new at this loan application process. I thought the Sallie Mae loan went through your school. One other question, how do you know the amount your school will let you borrow?
History on me--I start school in Aug. I am going to apply for my private loan at the beginning of May. I am still doing research on all these loans.

[Fox]

No, Sallie Mae Tutition loan doesn't go through your school. The check is mailed directly to the student.

Originally Posted by sdo4

I may be wrong because I am very new at this loan application process. I thought the Sallie Mae loan went through your school. One other question, how do you know the amount your school will let you borrow?
History on me--I start school in Aug. I am going to apply for my private loan at the beginning of May. I am still doing research on all these loans.

[laure]

question...

based on the cap my school has placed on the 'maximum amount allowed' to be taken out in loans, i know i'm going to need a private loan in addition to the maximum amount just to afford ramen noodles and a skanky shack in the hood. i know that i need to apply for the private loan before i stop working, but will applying for the private loan now affect my eligibility for the 'allowable' loans in the coming semesters of school?
i guess i'm afraid if i have the 30k sitting in my bank (or the 30k of debt on my credit report) i'll have trouble getting money from lenders for the 'allowable' amount of student loans each semester...and will it effect eligibility for stafford loans?

i've come to terms with being almost 100 grand in debt by graduation, just wanna make sure the money'll be available to make it there...

[heartICU]

Originally Posted by laure

question...

...but will applying for the private loan now affect my eligibility for the 'allowable' loans in the coming semesters of school?...

Nope. Your max allowable will still be available to you then.

[mumbatex]

b-ummmp!!