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I want 230,000 dollars in federal student loans.. IS THIS POSSIBLE?

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  • 6 years ago
    Favorite Answer

    Kaitlyn laid it out perfectly. Just wanted to add that if you are in Medical School your annual amount you may borrow increases to $40,500 and your total aggregate limit (which includes SUB/UNSUB loans borrowed as an undergraduate and graduate student) increases to $224,000.

    If you are a graduate/professional student, you may also be eligible for the Grad PLUS Loan. However, you are not automatically approved for the Grad PLUS Loan. You will need to pass a credit check before determining your eligibility for this loan.

    You may also apply for a private/alternative student loan; however, these are not federal loans.

    The total amount you may borrow for the year cannot exceed your total Cost of Attendance which is determined by your school's Financial Aid Office.

  • ?
    Lv 5
    6 years ago

    Federal loans - No. You have a maximum you can borrow as a dependent student capped at $31,000. An independent student can borrow a maximum of $57,500. However, this is for undergraduate education.

    If you are a graduate student, you can borrow $20,500 a year in the unsubsidized loan and a larger amount of the Grad PLUS loan. The PLUS loan is credit based, however. The lifetime cap for the unsubsidized is $138,500. Something to also keep in mind, you aren't able to borrow any more per year than your school's listed Cost of Attendance.

  • 6 years ago

    Nope. Try elsewhere

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