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Question About Student Loan Limits
Posted on 9/1/16 at 1:14 pm
Posted on 9/1/16 at 1:14 pm
I may put this on MoneyTalk if its not appropriate.
Why is the federal student loan limit for undergrads only $57000. I understand that a limit is needed for anything, but I think $63000 would be more appropriate with rising tuition costs.
Also, why is there is 150% limit of student academic progress. Lets say a student has reached 150% of their program, yet has only $21000 in federal loans. They pay out of pocket their last semester, buy why?
If they decide to go back to school for another BA or BS, why limit their hours when they have $30k+ they have yet to borrow?
Why is the federal student loan limit for undergrads only $57000. I understand that a limit is needed for anything, but I think $63000 would be more appropriate with rising tuition costs.
Also, why is there is 150% limit of student academic progress. Lets say a student has reached 150% of their program, yet has only $21000 in federal loans. They pay out of pocket their last semester, buy why?
If they decide to go back to school for another BA or BS, why limit their hours when they have $30k+ they have yet to borrow?
This post was edited on 9/1/16 at 1:29 pm
12
Posted on 9/1/16 at 1:15 pm to volod
It's best to avoid loans at all cost
Posted on 9/1/16 at 1:15 pm to volod
Lots of contractors are hiring now. I also did not get my dream job right out of college. It just takes time.
Posted on 9/1/16 at 1:15 pm to volod
quote:
If they decide to go back to school for another BA or BS, why limit their hours when they have $30k+ they have yet to borrow?
Because at some point you have to go into the real world and get a job and stop going to get inferior graduate degrees at places like Southern.
Posted on 9/1/16 at 1:16 pm to volod
Don't be a wuss and join the military and get 65K.
Posted on 9/1/16 at 1:18 pm to volod
To protect you against yourself.
Posted on 9/1/16 at 1:18 pm to volod
quote:
%150
Posted on 9/1/16 at 1:20 pm to volod
quote:You need your own Board.
I may put this on MoneyTalk if its not appropriate.
That's appropriate.
They have things called "part-time jobs" that students can do WHILE THEY ARE ATTENDING COLLEGE!
Yes!
Look into it.
Fix yourself, don't wait for Uncle Sam to (maybe) give you a hand-out.
Posted on 9/1/16 at 1:20 pm to volod
Southern didn't give you a scholarship?
Posted on 9/1/16 at 1:28 pm to BRgetthenet
quote:
Southern didn't give you a scholarship?
There is little money for scholarships as far as graduate students are concerned for SU.
They can barely pay their student researchers. The professors have limited Grant money.
Posted on 9/1/16 at 1:29 pm to volod
Just join the Navy already, Vernon.
Posted on 9/1/16 at 1:30 pm to mikelbr
Mike, his name is Francis, but nobody calls him Francis.
Posted on 9/1/16 at 1:41 pm to volod
I've never understood why we have a system where people can borrow to to go college. It should be paid for by the government.
Posted on 9/1/16 at 1:48 pm to yoga girl
quote:
I've never understood
shocked face
Posted on 9/1/16 at 1:52 pm to volod
quote:
$57000. I understand that a limit is needed for anything, but I think $63000 would be more appropriate with rising tuition costs.
why not $3,000,000?
Posted on 9/1/16 at 1:57 pm to volod
quote:
Also, why is there is 150% limit of student academic progress. Lets say a student has reached 150% of their program, yet has only $21000 in federal loans. They pay out of pocket their last semester, buy why?
They don't want to hand out student loans and aide to someone who is just taking classes for the frick of it without any progress toward an actual degree. That should be pretty understandable.
150% would essentially be taking 6 years worth of credits without a 4-year degree.
Posted on 9/1/16 at 1:59 pm to GEAUXT
quote:
It's best to avoid loans at all cost
thanks boss. no one new that info before you said it.
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