Can you get denied student loans if you already have some student loans?
I have student loans but they are not in default. I have heard that you can get student loans as long as you don't make them go into default. I want to go back to community college and take classes. I am paying on my current ones but because I don't have a job right now I can't pay for the extra classes. Anyone know if you can get more student loans if you already have some.
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Answer by nancy
Generally speaking, you can receive more student loans, but there are some factors that could prevent it, such as:
1) You have already reached the aggregate loan limits. ($ 31,000 for an undergraduate dependent student, $ 57,500 for an independent undergrad, or $ 138,500 for a graduate student)
2) You have already used your annual loan limits for this year.
3) You are not enrolled in an eligible program that leads to a certificate or degree at a school that participates in the Title IV program (some programs at a community college don't qualify, and you can't receive FAFSA funding for classes that aren't part of a degree program)
4) You are not enrolled at least 1/2 time (you can receive Pell grant funds if you will be taking just a class or two, but for loans you need to be taking at least 6 credits)
5) If you are continuing with a program you were in before, you may have to meet Satisfactory Academic Progress standards, which can include GPA, completing a certain percentage of the credits you attempted (usually around 66%), and finishing the program within 150% of the published normal time for completion.
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