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  • That's a kind of tricky question. The answer is "some of each". If you're talking about the maximum amount you can get in a year, there is a maximum you can get per student that is modified by the school's cost of attendance. If the cost of attendance for the school is less than the maximum yearly loan amount, you will only be offered the amount of cost of attendance. If you're talking about lifetime maximums, then the limits are per student. The lifetime maximum for undergraduate students is $23,000. If you are in grad school, the lifetime maximum for the amount you can borrow in grad school is $65,000 (note that your undergraduate loans do not count toward this maximum). There is a national database that keeps track of all of your loans, regardless of what school you were attending when the loan was taken out, so they can keep track of your lifetime totals.
  • The tricky bit is that this is only the governmental student loans. If you can get private loans from other companies, they may or may not care about your lifetime maximums.The other thing I'm not sure about is whether you can hit your limit, pay it off, then borrow more later. That's a situation that hasn't come up in my personal experience, so I can't answer that one.
  • If you've hit your limit, made payments for years, then want to go back to school and borrow again later, all of those payments you made get subtracted from the limit and you're eligible to borrow again until you've hit the top, again.
  • I ran into this just recently and had to perform some research (mainly the department of education's financial aid adviser workbook). For an dependent (living with help of parents) undergraduate the limit is certainly $65,000. For an independent undergraduate, however, the limit is double ($46,000). There are annual limits that get progressively higher as you enter your 2nd, 3rd, 4th, 5th, etc. year. For graduate school the total limit for non-medical students is approximately $138,000. A little less than half of it ($67,500) can be subsidized (the gov't pays your interest while you're in school). Medical students (I.e. doctors, etc.) can get loans up to around $200,000 (all inclusive of all 3 schools).
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โˆ™ 2011-12-29 15:31:38
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Q: There is a maximum amount you can get in student loans but is the maximum amount per loan institution or per student?
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What is the most money you can get from applying for school loans?

The maximum amount of money a student can get from applying from loans actually depends on the the student. A good thing to do is actually calculate the amount with a web source.


What is the maximum interest rate for a student loan consolidation loan?

The maximum interest rate for consolidating FEDERAL student loans is 8.25%. If your student loans are not federal loans, though, there is no maximum interest rate.


How do deferred payments for student loans work?

When student loans are deferred, the payments are put on hold for a set amount of time.


Can you still get a student loan half way through the semester?

You can still get student loans half way through the semester. However, student loans are not disbursed until after the semester has ended, unless it is from a private institution.


How do you find out about student loans consolidation?

If you are a student with many loans and debts, student loans consolidation might be a good alternative for you. Any financial institutions can provide you with information about student loans consolidation. Inform yourself through multiple financial institutions as the programs vary from one institution to another. You can also get information from your university.


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Take Out Subsidized Federal Student Loans?

When taking out federal student loans, try to take out the maximum amount of subsidized loans possible. Subsidized loans carry a lower interest rate than non-subsidized loans. You can end up saving a lot of money in interest fees by taking out subsidized loans. You should always try to qualify for as much subsidized loan money as possible.


What companies offer private student consolidation loans?

There are many companies that offer private student consolidation loans. One can visit their financial institution to see if they offer these loans. One may also find various resources online to apply for these loans.


Where is the best place to get a student loan consolidation?

If the loans were taken from an educational institution, check with that school to see your options. If the loans are from a private company, contact them to see if you can consolidate the loans.


How can one get loan forgiveness for student loans?

One can get a loan forgiveness for a student loans by visiting an employment center where they will help one pay of their loans or pay the entire amount them selves.


Are there any easy student loans?

I would check with a local lending institution to acquire about student loans. Also, when you start applying for colleges the financial aid center in the college will give you information about where you can apply.


Do you still have to pay back student loans if the school is no longer in business?

Possibly - it depends on the terms of your student loans. If you took out a private student loan through a bank, you will probably need to pay back the loan. If you took federal student loans, depending on when and why the school closed, you may not need to pay the loans back. You should check with the institution that you have been sending your student loan payments to.

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