Can you get federal loans for a second master's?

[laura_b]

I already have my MA, and I am going for an MFA. I just filed my FAFSA for 2013/14. It just occurred to me that they might not fund a second master's.

[ZeChocMoose]

It is going to depend on what type of federal loans and the amounts that you took out for your first master's degree and undergraduate degree (if applicable).  For Stafford loans, there is a lifetime limit of $138,500 for graduate and professional students.  For Perkins loans, the lifetime limit is $60,000 for graduate and professional students.  Both of these lifetime limits include the amount that you took out as an undergraduate.  For the Grad PLUS loan, I could not find a lifetime limit, but you can only borrow the cost of attendance minus any alternative financial aid for each year.

 

You also cannot be currently in default on any of your federal student loans to receive federal loans for this second master's degree.

 

This website has good information on federal financial aid and eligibility: http://studentaid.ed.gov/ 

[archphd]

I have two MAs and they were both supplemented with federal funding. Do keep in mind what was said above, that there is a limit to the amount of you can borrow. I only loaned about $20,000 in Stafford loans for both MA degrees, so it was ok for me.