Student loan limits???
On July 1. 2008, a law was passed to raise aggregate loan limits for total stafford loans to 57,000. I have 41,000 in student loans, but my school only offered me up to 46,000 (which was the old aggregate loan limit for independant students). Does anyone know why?
There are a number of factors.
1. Undergraduate vs. graduate
2. Cost of Living of the geographic location of your school
3. Cost of Tuition
Also to note:
1. the law may be effective later than the upcoming school year.
2. bureacrasies never keep up with change as fast as we would like.
3. Your school may not have the information from the feds yet.
Go back to your financial aid office and ask the same exact question, but ask a different counselor if you asked before. It can be a very confusing situation.
Best of Luck.
