How Many STAFFORD LOANS per academic year?
You can only receive one Stafford loan per academic year from one lender. When you apply for the Stafford loan, your school will calculate your eligibility amount and certify the loan accordingly. There is a maximum amount that a student can receive depending on their student status and their Cost of Attendance. Once you have been certified for your maximum Stafford loan amount, there is no more Stafford loan money that can be disbursed to you until you enter a new loan period (usually a new academic year). Students tend to take out private loans to meet the difference between the Cost of Attendance and the amount they receive in grants and Stafford loans, but this is not a wise decision. These loans can be difficult to get and have much higher interest rates than federal loans. It is a better idea to work, more than part-time if you can, and pay for your own living expenses while attending school. While it may be difficult now, you will put yourself in a much better financial situatio
