Can I request more money in my school loan?

NurseSN45696 · Apr 22, 2014

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.

WookieeRN, BSN, MSN, RN · Apr 22, 2014

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.

MrChicagoRN, RN · Apr 22, 2014

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.

mommycruz3 · Apr 22, 2014

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

WookieeRN, BSN, MSN, RN · Apr 22, 2014

It depends on what you qualify for.

NurseSN45696 · Apr 23, 2014

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'.