Can I borrow more than the cost of attendance through a private educational loan?
The short answer is “no.” The standard budget detailed above includes a per month budget (over 9 months) for rent, food, utilities, miscellaneous expenses (such as optional study aids), medical insurance and other health expenses (such as aspirin) and all travel. This budget contemplates a frugal student lifestyle. Any expenses beyond those in the cost of attendance budget must be paid with funds outside of your financial aid package. The sum of financial aid is limited to the total Cost of Attendance. Your financial aid package (whether scholarships or loans) is not intended to cover such items as those listed below. You must have another source of funds to cover these items, which are not considered a part of the cost of attendance.
Related Questions
- When are schools required to recalculate the cost of attendance used to certify a FFEL Program loan when a students enrollment status changes from full time to at least half time?
- How do I determine what additional amount of funds I can borrow in a Graduate PLUS or private loan?
- Can I borrow more than the cost of attendance through a private educational loan?
