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Wednesday, May 6, 2009

How Much Can I Borrow For My Tuition With A Stafford Loan?

Emergency legislation was recently passed increasing the amount you can borrow with a Stafford Loan by $2,000 a year. This began in the 2008-2009 school year. For Freshman the loan amount is $5,500; Sophomores $6,500; and juniors and seniors can borrow up to $7,500. If you are not claimed by your parents as a dependant you are eligible for higher loan amounts.

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