How to add year in moment.js?

Student Loan Questions. Borrow money for one year or all? Can I add money to my loan later?

• I have recently applied for the FAFSA and because my application was extremely late I only received one loan, the Stafford loan for $5,500. My college costs about $35,000 total per year [tuition, books, dorm room, food, etc.] I decided to get a loan with Sallie Mae, but I am confused. 1.Do I get a loan for just this year [$30,000 loan] or do i get it for the total amount of years I am planning on attending? (about 4 years so over a $100,000 loan!) 2. If I only get a loan for my first year, can I get more money from Sallie Mae later on for my second year? [Example: I get a loan of $30,000 this year, can I add onto that loan and get $20,000 for my second year? Or will I have to get a whole new loan?]

• Answer:

  Generally speaking, they approve you for a loan for the 4 years you are in school. Then they send you a check at the beginning of each semester that you can cash. They usually send it to the college financial department and it is made payable to the college. You will be asked to sign the check, thereby assuming the debt and also paying the college. In other words, they want to be certain that you are a student enrolled in the college each semester AND they want to be certain that the college is the one receiving the money, and that you're not using it for some other purpose.