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

Nursing Students General Students

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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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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.

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Specializes in OB.

yep. Got 3 of them myself.

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Specializes in Med-Surg so far.

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.

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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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