taking out a stafford loan mid year

Paying for College
1

<p>My son has about $6000 in unsub stafford loan. He will not need any loan for the fall semester, but may need it for the spring semester. If he does not take out a loan in the fall semester would he still have access to the entire $6000 for the spring semester or is he limited to half the amount, $3,000? (studentaid.ed.gov says, "No installment may exceed one-half of your loan amount.")</p>

<p>He's trying not to borrow more than he needs but may have to to be on the safe side becuase of the one-half rule.</p>

2

<p>In a similar situation this summer, I asked S’s school. FA office said he should wait and apply for the spring and he would have access to the full amount he’s eligible for this school year. I suggest checking with your S’s school to be sure, though.</p>