Can you only have 1 Federal Stafford Loan at a time?

  1. I am in need of another loan for next semester and I was wondering if you can have more than 1 stafford loan from the federal government per semester? I get a certain amount through my school from the stafford loan but it won't be enough for me to take some of the 6 credit nursing courses at 550 per credit. My credit is horrible (yes I blame myself for my shotty credit) so I will never be approved for a personal loan. Does anyone know what my options are if I have any?
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  2. 4 Comments

  3. by   destined2bCRNA
    Yes, you can take out more than 1 federal loan. You can take out either a subsidized or unsubsidized or both each semester and they have nothing to do with credit.
  4. by   moongirl
    yep. Got 3 of them myself.
  5. by   ladyinred667
    You have a max amount they will loan you based on what year you are in (grad, undergrad, etc). Some of that will be in subsidized and some in unsubsidized.
  6. by   carolinapooh
    Actually, they DO check your credit. I'm on something like my fifth set of Staffords over my lifetime...however, you have to have HORRIBLE, truly horrible credit to get turned down.

    But I have met people who were.

    Just to add on, I'm still paying off my Staffords from my BS degree; they're just rolling the "newer" debt into the outstanding debt and reporting it all together. My payments will then be consolidated into one fat "amount due".

    Thank God for loan repayment...

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