Maximum student loans vs. cost of attendance

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
katesearches
Posts: 72
Joined: Wed Feb 29, 2012 6:27 pm

Maximum student loans vs. cost of attendance

Postby katesearches » Thu Apr 19, 2012 8:08 pm

On the federal loan website, I read that the maximum amount of student loans was around 130,000. On a few other websites, I read that the maximum was $130,000, including federal/private loans. This number is the total amount for both undergrad and grad loans.

BUT cost of attendance is about $70,000/ year at a private law school (such as cornell or harvard), coming to about $210,000 total. If I don't get any scholarships or grants, that would mean I'd have to supply/work for roughly $80,000 throughout the course of 3 years.

What happens if you max out on loans and can't earn $80,000 during the 3 years? Have I been reading the websites wrong - is 130,000 the maximum for a certain federal loans, but not all? For people whose parents aren't able to contribute (0 EFC), what were your experiences in affording law school? Any other advice?

User avatar
Tiago Splitter
Posts: 15515
Joined: Tue Jun 28, 2011 1:20 am

Re: Maximum student loans vs. cost of attendance

Postby Tiago Splitter » Thu Apr 19, 2012 10:59 pm

That's the max Stafford loan only. Each year the max Stafford is $20,500.

nicktoff
Posts: 2
Joined: Sat Jul 21, 2012 2:26 pm

Re: Maximum student loans vs. cost of attendance

Postby nicktoff » Sat Jul 21, 2012 2:34 pm

SPAM.

User avatar
cinephile
Posts: 3469
Joined: Sun Jul 18, 2010 3:50 pm

Re: Maximum student loans vs. cost of attendance

Postby cinephile » Sat Jul 21, 2012 2:35 pm

You can take out gradplus up to the full coa.




Return to “Financial Aid”

Who is online

Users browsing this forum: zerato5 and 2 guests