Can you have a 2nd Student Loan? if you want to do a second degree?

Absolutely. Plenty of people have 2 loans.. some have 20. Of course, there are limits to how much Federal aid you can get (annual limits as well as %26quot;lifetime%26quot; limits), but if you have only one degree now, chances are you haven't come close to these limits.

Undergraduate ANNUAL loan limits for Federal Stafford loans are as follows:

Freshmen: $2,625

Sophomores: $3,500

Junior/Senior/Fifth-Year: $5,500

*Independent* undergraduates are eligible to borrow additional unsubsidized Stafford loan funding: $4,000/year for Freshmen/Sophomores and $5,000/year for Juniors, Seniors, and fifth-year students.

{Note: The annual Federal Perkins Loan limit for undergraduates is $4,000.}

Graduate ANNUAL loan limits:

Loan limits for graduate students are much higher. In general grad students are eligible to receive $18,500 per YEAR in Stafford Loan funding. $8,500 of this amount can be subsidized.

{Note: Perkins Loan limits for Graduate students are $6,000.}

Health professions students (and, in some cases, students in teacher certification programs) are eligible for additional Stafford loan funding. The amounts for this, however, vary by course of study. For specifics, see the link below. You will notice that, for some students, their annual limits are HUGE.

AGGREGATE (overall/lifetime) Debt Limits:

There are aggregate (%26quot;overall%26quot;) debt limits that MUST be taken into consideration when calculating a student's eligibility for these annual limits. A student would become ineligible to borrow student loan funding those funds would exceeded his aggregate debt limit. Stafford aggregate limits are as follows:

* $23,000 for a dependent undergraduate student,

* $46,000 for an independent undergraduate student (or a

dependent undergraduate student whose parents do not qualify for PLUS loans), no more than $23,000 of which may be subsidized.

* $138,500 for a graduate or professional student (including

loans for undergraduate study). No more than $65,500 of this

aggregate amount may be in the form of subsidized loans.

* $189,125 for graduate health professions students, no more than $65,500 of which can be subsidized.

Note: Federal loan limits are set to be increased beginning with the 2007-2008 academic year.

Finally, even if you have exceeded your Federal borrowing limits, most private lenders will allow you to borrow a private loan up to the cost of your education less any other financial aid that you had received. In some cases, some private lenders will allow you to borrow education loan funding in excess of your direct costs.

Can you have a 2nd Student Loan? if you want to do a second degree?

I don't believe so, unless it is a specialist course, such as a PGCE or similar. Check it out with your local education authority, they will be able to tell you what you are entitled to, and when you talk to them, it is a good idea to have your existing ART ID number to hand as well. (check student loan statements)

This is only for the UK by the way.

Can you have a 2nd Student Loan? if you want to do a second degree?

I currently have out 2 student loans, and I plan on taking out loans for graduate school. Yes, it is possible. Talk to the providers of your first student loan, and see what their rules are. Then, talk to different banks near you. They usually are very willing to lend money to students, even if they already have loans, at a low interest rate. If you are going back to school, there's also other ways to fund school, such as becoming a teaching assistant.

Do some research, and you will definitely be able to fund a second degree somehow.

Can you have a 2nd Student Loan? if you want to do a second degree?

There are tons of scholarships that go unclaimed each year. Many $400, $500 or $1000 scholarships never even get applied for because people think it's chump change and not worth applying for. Well, get a few of those $500 scholarships and it'll really make a dent in your tuition bill.

Do a search on scholarships, search your major, your ethnic heritage, your town, your parents employers, your employer, hobbies, high school, local chamber of commerce/rotary/ lion's club etc. Left-handed? There is a scholarship out there for you! Older woman returning to school? There are scholarships out there for you. Do combined searches on more than one criteria %26quot;hispanic women aviation scholarships%26quot; etc.

Go to the library and ask the reference librarian for a reference book on scholarships. They usually have more than one. There are all kinds of scholarships out there, you just have to start applying yourself and make it your summer career to send out letters everyday for scholarships. Good luck!