Thread: Grad Plus Loan

Does anyone know what happens when you reach your stafford loan limit. As in when you reach the maximum amount ($138,000) and need more money to finish a masters program. I am doing Davenport and I was told that I could take out Grad Plus loan but then I called the main student aid office and was told I can't take out any more money (even grad plus) after I reach the max for stafford loan. Can someone shed some light on this?

As far as I know, you can take out Private loans. The interest rates are usually higher and you might have to start paying six months after you stop taking classes, but it's a good deal for finishing up.

Originally Posted by Froggers

As far as I know, you can take out Private loans. The interest rates are usually higher and you might have to start paying six months after you stop taking classes, but it's a good deal for finishing up.

That's correct. Private loans are available, but rates are higher and they dont offer you a long deferment or forebearance option after you graduate or stop taking classes.

Good luck

Where were you able to take out a private loan from?