The Department of Education won’t let you transfer federal student loans to another person, but that doesn’t mean it’s impossible.

What are the three types of federal student loans?

There are three types of federal student loans:

• Direct Subsidized Loans.
• Direct Unsubsidized Loans.
• Direct PLUS Loans, of which there are two types: Grad PLUS Loans for graduate and professional students, as well as loans that can be issued to a student’s parents, also known as Parent PLUS Loans.

  What is the maximum you can borrow in federal student loans?

  The maximum amount you can borrow each academic year in Direct Unsubsidized Loans ranges from $5,500 to $12,500 for undergraduates, depending on your year in school and your dependency status. Direct Unsubsidized Loans have an annual limit of $20,500 for graduate or professional students.

  Can federal student loans be denied?

  Can you be denied a federal student loan? Yes, you can be denied a federal student loan for many reasons. It’s a common misconception that completing a FAFSA loan application means you’ll automatically get approved for federal student loans. In reality, not everyone is eligible.

  Can you put a student loan in someone else’s name?

  Yes, you can — just not via the Department of Education. To transfer student loans, you’ll need to find someone willing to refinance with a private lender under their own name.

  Do you get federal student aid if you have private loans?

  Private student loans you may have received are not federal loans and are not included in “My Federal Student Aid.” All borrowers are eligible for this plan. Payments are a fixed amount that ensures your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).

  How can I find out if I am eligible for federal student loans?

  Before you contact your loan servicer to discuss repayment plans, you can use Loan Simulator to get an early look at which plans you may be eligible for and see estimates for how much you would pay monthly and overall. Private student loans you may have received are not federal loans and are not included in “My Federal Student Aid.”

  Is it really possible to have my federal student loans forgiven?

  Is it really possible to have my federal student loans forgiven or to get help repaying them? The answer: Yes! However, there are very specific eligibility requirements you must meet to qualify for loan forgiveness or receive help with repayment.

  What’s the maximum amount a student can borrow for a private loan?

  Like federal loans, private loans also typically have limits, with most putting an aggregate borrowing maximum of $75,000 to $120,000 for undergraduate students. The limit is the total allowable federal and private student loan debt permitted. Many students can’t qualify for private loans because they don’t have credit histories.