What happens to Student loan limits if you take 10 credit hours for a semester?

[TruePaige]

Just kind of curious, I've been taking 18-20 credit hours a semester and am entering my final semester of sixteen credits.

Anyhow, for next semester I've been chosen to be part of a pilot program to be an embedded tutor for blind accounting students and also am going to be performing tutoring for World Literature and Microeconomics. This really messes up my schedule though if I tutor in all three areas.

Since my classes for my transfer school don't start until the fall though I figured it wouldn't matter if I just spread my last courses out a little and did two in the summer.

So for my last sixteen credits if I did 10 this spring and left the last six until summer, would that cut my loan limit?

Also, happy new years, wishing this one in was particularly great for me and I hope it was for all of you.

(For all of you who decry loans, they were really necessary for me because of the higher course load to finish my first two years early and because of some other financial needs)

 

[Sea Moose]

No idea about college babble - Hi TruePaige!

 

[TruePaige]

No idea about college babble - Hi TruePaige!

Hehe..hey Sea Moose. Welcome back to the internet! Hope you enjoyed your militaristic tour of duty.

 

[wiredspider]

What kind of loans are these?

I had a scholarship that required being full time, but last semester I couldn't be full time (no classes I needed or wanted to take). They took away the scholarship, but where able to manually apply it after review...

 

[TruePaige]

What kind of loans are these?

I had a scholarship that required being full time, but last semester I couldn't be full time (no classes I needed or wanted to take). They took away the scholarship, but where able to manually apply it after review...

Federal Stafford Loans.

I'll call them Monday, but figured someone on ATOT might know.

 

[Mday]

Loans vary. It's safe to say that if you do not take enough credits at your school to be declared a full-time student (credits vary by school), e.g. you are now a part-time, your financial aid package will be reduced to that level, since part-time students do not pay the same tuition as a full-time student. Your school notifies you of what your federal student loan levels are and also what makes you a full-time student, so you need to call them. If this was a private loan, talk to your bank.

If you are just under the level to be a full-time student, take an easy freshman class, like "drawing" if you so please. This will give you enough credits for that semester to be a full-time student. This is also a nice way to boost your GPA if you don't take it for granted that it's an easy A (e.g., you still need to show up to class).

If you fall well below the limit, consider paying for the semester on a per-credit basis.

 

[krcat1]

Depends on the school and the loan. Check your school's financial aid web page for information about the loan policies.

The most important thing is to check with your financial aid office and be sure that your course load does not trigger the start of the six-month grace period for repayment of loans.