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Can the amounts of my loans be raised?

I have some leftover expenses that my family does not intend to cover. Will I be able to raise my student loan amount to compensate? #money #student-loans #loans #financial

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Paul’s Answer

Yes, the amount of the loan can be raised but some schools put a cap on the amount a student can take out depending upon their year in college. So I would first contact the school's financial aid office to see what your options are. You may need a co-signer. Now, I'm assuming you're talking about federal loans. Private loans such as the type that are offered at the bank will lend you as much as you want assuming you have good credit and maybe a co-signer.

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Luiz’s Answer

Hi, Dylan
I am assuming that you talk about private loans, which depends on interest taxes from banks.
I found in the internet a list of institutions after lookin at an article called "11 Strategies for Paying Off Your Student Loans Faster"

The idea is that by paying more than the minimum payment..., you can pay down your student debt quickly.
(By JAMIE YOUNG Updated September 3, 2020)

There are some lenders that will allow you to refinance your loans over the course of just five years (which will help you pay them off faster and save money in interest).

Please, look for in this list and have a good luck.