Is it possible to get student loans for more than cost of attendance?
I am going to attend a community college and I called the financial aide office to see what the "total cost of attendance" is and she said it is only about $12.000 per year for someone going full time because they do not offer room and board. that would only leave less than $7000 after tuition and books. Is it true that student loans are limited to this amount?
If I am able to get scholorships will this be included in that amount or would I still be able to borrow the $12000 (minus pell grant) and have scholorship money on top of that?
I wanted to get loans to cover most of my income so I could concentrate on school without neglecting my young children.
Private loans or are different -- you can take out additional private loans that are more than the TCA.
This is no longer true. From what I've researched and been told in the past month, private loan companies like Sallie Mae and banks have taken away loan programs that allow students to borrow more than the TCA.
I'm trying to get student loans through my school also. I don't qualify for grants because unfortunately they look at PAST income on the FAFSA rather than current or what your income would be once you start a full time nursing program and have to quit your job. Good luck getting approved for private loans. I have A paper credit, but didn't qualify. I also have a good debt ratio, but that didn't help either. They are pretty much finding any reason possible to deny people for private student loans right now. I have no other options. There are no good cosigners hat would do that for me. My school also has a max loan limit of 12k. I'm going to apply for WIA...it's a program in florida that helps with tuition and books, etc. So hopefully that helps out too. We'll see.
I'm in the same boat as you are. I have 2 small kids. I can't imagine being successful in the program and also working and trying to find time for the kids. I will hopefully be able to work part time during the 1st semester, but after that it won't be possible.
Wow...sorry this was so long. I guess I had a lot to say!
NerdyNurse2012
22 Posts
This is no longer true. From what I've researched and been told in the past month, private loan companies like Sallie Mae and banks have taken away loan programs that allow students to borrow more than the TCA.