08/17/2026
Should you borrow your private student loans one semester at a time, or by academic year?
If you apply for the entire academic year, you won’t have to stress about filling out an application for your next semester during finals week! As long as you remain eligible for your student loan, you’re also guaranteed funding for the entire academic year – being approved for one semester doesn’t guarantee you’ll get approved for the second.
If you apply for a single semester, it gives you more flexibility with paying for college your second semester – you never want to borrow more money than you need! If you take an extra semester, such as a summer or winter term, these usually need to be applied for separately.
Make sure you ask your lender their requirements for applying. And make a list of your own pros and cons to help you decide!
Want to talk through your options? Visit GraniteEdvance.org/Help to give us a call, send us an email, or schedule an appointment!