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How much CAN I borrow?
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| These limits are currently being revised due to recent legislation effective July 1, 2008. Please check back. |
There are limits to how much you can borrow in an academic year.
At Red Rocks Community College, one academic year equals Fall + Spring + Summer.
These limits are also affected by whether you are:
1.) dependent or independent (as determined by the FAFSA) and
2.) a freshman or a sophomore
How much you CAN borrow…
| Dependent students: | ||||
| Sub & Unsub Total | ||||
| 0-29 credits | Freshman | $3,500 | ||
| 30 + credits | Sophomore | $4,500 | ||
| Independent students: | ||||
| Sub | Unsub | Total | ||
| 0-29 credits | Freshman | $3,500 | +$4,000 | = $7,500 |
| 30 + credits | Sophomore | $4,500 | + $4,000 | = $8,500 |
How much SHOULD I borrow?
Borrow only what you need! This money must be repaid!
Please contact the Financial Aid Office if you need help deciding how much you should borrow to cover your expenses.
Financial fitness tools are available online at:
www.mapping-your-future.org/features/dmtensteps.htm
with links to www.nslds.ed.gov/nslds_SA/ for locating your previous student loans.
A great reference to help you “see into the future” regarding your career salary and your ability to handle your loan debt is the “Slope Calculator” located at:
collegeincolorado.org/Pay/Tools/SLOPE_Calculator/SLOPE.aspx
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| Contact Information |
Phone: 303.914.6256
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| Priority Dates |
Spring 2009 Summer 2009
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5420 Miller Street • Arvada, CO 80002 • 303.914.6010
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