<p>Ok, so I have a stafford loan and always need to take the max. I will be a junior this year, and I always thought that you could take $5500 junior year, $5500 senior year, etc., but someone told me it is $5500 COMBINED! </p>
<p>If thats the case, I will be even MORE screwed than I am already.</p>
<p>So which is it......$5500 for years 3+4 total......</p>
<p>OR $5500 year 3
$5500 year 4, etc.?????????????????????????????????????????????</p>
<p>As a dependent undergraduate student, you can be awarded up to $5500 for your 3rd, 4th, and I think even 5th year (if applicable) of undergraduate schoolingÂ… $5500 for each year. See ww.finaid.org/loans/studentloan.phtml<br>
Good luck</p>
<p>The link is <a href="http://www.finaid.org/loans/studentloan.phtml%5B/url%5D">www.finaid.org/loans/studentloan.phtml</a></p>
<p>You should have information in the literature that the lender provided or that your school has. Compare the websites of your lender, finaid.org, and other "preferred lenders" </p>
<p>Rules for Staffords changed on July 01, 2006. Failure to understand the new rules will really get you "sc**wed." </p>
<p>Think of understanding the student loan process as very short course of 2 hours. Getting an F or D will cause your life to be miserable. An C or B grade will put you "average" will be a constant reminder of your college days. An A grade will make you wealthy because you took the time and effort to understand how a particular type of loan works, and realize that other loans have their own peculiar features which may work for or against your best interests.</p>