Based on the limits on federal student loans, if your college tuition was $10,000 per year, you would not be able to pay your tuition using only federal student loans.
Federal student loans are loans that can be taken by people to attend tertiary institutions. They have less interest rates on them which make them very attractive.
They can either be subsided or unsubsidized. Regardless of the type of federal student loan, the highest limit that one can borrow is $7,500 in a given year. So you can't use a federal student loan alone to pay a college tuition of $10,000 per year.
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The federal student loans limits state that If your college costs $10,000 a year, you would not be able to cover the cost of tuition with only federal student loans.
A loan is referred to an amount an individual borrows from a bank at a fixed rate of interest which is needed to repay after a certain duration of time in order to meet their personal or professional goals.
A federal student loan is referred type of loan taken by students to get admission to any educational institution. The rate of interest is comparably lower in student loans which attract a large number of students.
According to federal student loan regulations, the maximum amount that can be borrowed in a given year is $7,500. Therefore, you cannot use a federal student loan alone to cover your $10,000 yearly college tuition.
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