Can I request more money in my school loan?

Nursing Students General Students

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Hey everyone!

Every semester I have to apply for financial aid and loans if needed. Since I will be quitting my job in June to do the accelerate portion of my nursing program, can I request more money to have for living expenses??

The maximum amount that you can borrow in federal loans, whether subsidized or unsubsidized, per year for an undergraduate degree is $12,500. I think over a lifetime, it's around $50,000, but annually it's only 12,500. I'm in your shoes at the moment and have applied for many scholarships and am planning to take out private student loans. Private student loans suck but at least they're available, right? I'm hesitant to take out student loans, both private and federal, but tuition and rent have to be paid somehow.

If you're eligible, try for pell grants and other items like that. Since I am going for my second bachelor's, I am not eligible to receive any federal grants.

Specializes in PACU.

If your tuition eats up the $12,500 you are eligible for per year for federal loans, you would have to look elsewhere for private loans or scholarships/grants to fill in the gaps.

Specializes in Leadership, Psych, HomeCare, Amb. Care.

Keep in mind, the more you borrow, the more you pay back. In many cases, interest accrues from day 1 of the loan, and interest adds up, and compounds, quickly. And student loans must be paid off, even through bankruptcy

Cut your expenses to the bone, save what you can save up now, & borrow only the absolute minimum you need to survive.

Thank you everyone who replied. Can I get as many grants as possible? Or is it limited?

Specializes in PACU.

It depends on what you qualify for.

You would need to talk to your financial aid office about what federal grants you qualify for. They are the one's who decide your 'need'.

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