Stafford Loans for Med School

<p>I have read that full time med school students can apply for Stafford loans, of up to $38,500 per year. They say the only stipulation is that you not have any outstanding federal student loans. Am I reading this correctly? I am figuring out how to pay for my D for med school, although it would be 3 years away, but I didn't realize this option was available? Would I need to cosign, or is the students good credit enough? Sorry for the questions, D is at a no loan undergrad, so I am not familiar with the Stafford or their qualifications.</p>

<p>You don't need to co-sign. Your daughter will be over 18 and will be considered an independent by the federal government by the time she matriculates.</p>

<p>Finaid had information about Stafford loans here</p>

<p>FinAid</a> | Loans | Student Loans</p>

<p>There is not a requirement to have no outstanding federal loans. You just cannot be over the total cumulative limits allowed. For a medical school the annual limit is $40,500 a year of which up to $8,500 can be subsidized. The cumulative limit for medical students is $224,000.</p>

<p>Do you need credit for these sorts of loans or are they like undergrad stafford where they hand them to you?</p>

<p>Its just like other stafford loans in which the government guarantees the loan - no credit required.</p>