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Tuesday, Jan 05, 2010 9:45 AM

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  • Can you apply for a second student loan?         

Can you apply for a second student loan?
Ronny F.
(Post #1)
2 replies

Monday, Feb 08, 2010 10:51 AM

Yes, you may apply for a second student loan. There are lots of people who are going to college using two student loans to support themselves. But do be careful about once you are done with college, you will have 2 outstanding loans to pay off.
jack HAR.
(Post #2)
1 reply

Wednesday, Feb 24, 2010 7:53 AM - A Reply to jack's post (Post #2)

You can apply a second student loan, but you must be very careful. Here are some statistics for you to consider. Right now, the maximum interest rate on a new Perkins loans is 5%; on Stafford loans, it is 6.8% and on PLUS loans, borrowers pay 7.9% if they borrow through the direct loan program and up to 8.5% if they borrow from a bank or other, non-governmental lender.
Benny Penito
(Post #3)

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