DIRECT LOAN LIMITS
The amount a student can borrow during an academic year is based on several different factors including grade level, dependency status and federal loan limits. The following chart lists the maximum yearly loan limits for Subsidized and Unsubsidized loans:
Yearly Loan Limits
Dependent Undergraduate Students:
|
|
Base Loan Sub/Unsub |
Additional Unsubsidized Amount |
Total Loan |
|
First Year |
$3,500 |
$2,000 |
$5,500 (Freshman) |
|
Second Year |
$4,500 |
$2,000 |
$6,500 (Sophomore) |
|
Third Year and Beyond Undergraduate |
$5,500 |
$2,000 |
$7,500 (Juniors & Seniors) |
Independent Undergraduate Students (and dependent students whose parents cannot borrow a Parent Loan):
|
|
Base Loan Sub/Unsub |
Additional Unsubsidized Amount |
Total Loan |
|
First Year |
$3,500 |
$6,000 |
$9,500 (Freshman) |
|
Second Year |
$4,500 |
$6,000 |
$10,500 (Sophomore) |
|
Third Year and Beyond Undergraduate |
$5,500 |
$7,000 |
$12,500 (Juniors & Seniors) |
Graduate and Professional Students:
|
|
Base Loan Subsidized |
Unsubsidized Amount |
Total Loan |
|
Graduate / Professional Students |
Not Available |
$20,500 |
$20,500 |
The Department of Education also sets aggregate, or total, loan limits that students cannot go over. Students cannot borrow more than the following lifetime limits for Subsidized and Unsubsidized loans:
Aggregate Loan Limits
|
Types of Student |
Maximum Amounts (subsidized and unsubsidized) |
|
Dependent Students |
$31,000 - no more than $23,000 of this amount may be subsidized ($8,000 must be unsubsidized) |
|
Independent Students (and dependent students whose parents cannot borrow PLUS) |
$57,500 - no more than $23,000 of this amount may be subsidized ($34,500 must be unsubsidized) |
|
Graduate and Professional Students |
$138,500 - no more than $65,500 of this amount may be subsidized ($73,000 must be unsubsidized)
|