How much can I borrow in student loans?

In California, the amount you can borrow in student loans depends on the type of loan you are taking out, your financial need, and the cost of attendance at the school where you are enrolled. Generally, if you are taking out a federal loan, the loan limit is $5,500 for the first year of college, $6,500 for the second year, and $7,500 each subsequent year. If you are taking out a private loan, the loan limit can vary depending on the lender. Private lenders will evaluate your credit worthiness and the school you are attending to determine the amount you can borrow in student loans. The amount of student loans you can receive from a college or university in California also varies. Colleges and universities in California can offer students up to $12,500 in student loans each year, with an aggregate loan limit of $67,500 for students who have already completed their undergraduate degree. Finally, your financial need may also influence the amount of student loans you are eligible to take out. Depending on your financial situation, you may be able to borrow more than the loan limits outlined above. In order to find out what you are eligible for, it is best to speak to the financial aid office at your school.

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How much can I borrow in student loans?

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