Question on Stafford Loans (can I borrow multiple?)

Paying for College
1

<p>Seasons Greetings! I know this is a wierd time to be posting but this is one of my only times free from the holidays lol anyway my question is this. Would I be able to borrow multiple stafford loans from different lenders? As in, for example, Sallie Mae offers a Federal Stafford loan up to $5,500 and Wells Fargo offers a Federal Stafford loan for up to $5,500 also. Both do not require a co-signer. Would I be able to take both and combine them for $11,000, or do Federal Stafford Loans only work that I can only take out one of them? </p>

<p>Thank you for the Help and Happy Holidays!
Ken</p>

2

<p>The maximum Stafford loan for a freshman for a year is $5500. You cannot borrow $5500 from one lender and $5500 from another. It is $5500 total Stafford (from any source) for the year.</p>

3

<p>In our case the school gets paid directly and has to certify your loan amount. They keep track of whether or not you have “used” your Stafford loan. As far as I know it would be impossible to get another.</p>

4

<p>Ahh I got ya thanks guys just wanted to clarify</p>