Is it possible to get another student loan even if you're not finished paying off the last one?

Like, say, if I wanted to return to school as a continuing education student in order to get another degree.

Is it possible to get another student loan even if you're not finished paying off the last one?

Yes, you can qualify for another federal Stafford student loan so long as you are not defaulted on any prior loans and meet all the other usual qualifications for receiving federal student aid (meaning that you must file a FAFSA, be a US citizen/permanent resident, have a high school diploma or GED, be meeting the Satisfactory Academic Progress requirements of your school, etc). Additionally, for federal Stafford student loans you must be enrolled at least half-time.

The new loan will be treated as a separate loan from your prior loan(s).

You will also be eligible to apply for an in-school deferment on your existing loans once you enroll at least half-time again. This will take your loans out of repayment, so you are no longer required to make monthly payments while you are in school at least half-time. You will need to contact your lender for the in-school deferment form, then have it completed by your college's admissions or records office to have your enrollment verified.

So, your first step is to file the FAFSA. If you plan to re-enroll for the upcoming Spring 2008 semester, file the 07-08 FAFSA right away! This will require 2006 income information. If you do not plan to start till Fall 2008 (August 08) then you can file the 08-09 FAFSA as of January 1, 2008. Apply online at www.fafsa.ed.gov.

Follow up with your financial aid office within 2 weeks of submitting your FAFSA online to determine if any other paperwork is required and for more information on the loan application process.

Is it possible to get another student loan even if you're not finished paying off the last one?

of course it's possible

Is it possible to get another student loan even if you're not finished paying off the last one?

Yes you can. You might have to pay higher interest rate, but you can.

Is it possible to get another student loan even if you're not finished paying off the last one?

Yes, and you get to stop making payments after you start school again. A school's financial aid dept will tell you all about it. Just give them a call. You don't have to be a student there to ask questions. They want to help you so you can come to school with them.

Is it possible to get another student loan even if you're not finished paying off the last one?

I don't see why not.

Is it possible to get another student loan even if you're not finished paying off the last one?

Yes, of course, as long as you are not in default of the other loans. When you return to school those existing loans will be deferred until you complete school then they will be reinstated and a payment schedule decided.

Good luck...

Is it possible to get another student loan even if you're not finished paying off the last one?

Yes, many people do this. Many people go directly from undergraduate to graduate school without paying a dime towards their loans and get a new one quite easily. (if they qualify)

Is it possible to get another student loan even if you're not finished paying off the last one?

Usually if u have repaid at least 75% of the old loan, they might consider granting another, by revaluating your ability to repay....