FEDERAL Loan limits

 

ANNUAL LOAN LIMITS FOR SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS

 

Dependent Undergraduate Student

Independent Undergraduate Student

Graduate Student

 

1ST YEAR

$3,500

$7,500 – Only $3,500 can be Subsidized

$20,500 each academic year – Only 8,500 can be subsidized

 

2ND YEAR

$4,500

$8,500 – Only $4,500 can be Subsidized

 

3RD & 4TH YEARS

$5,500

$10,500 – Only $5,500 can be Subsidized

 

Maximum Total Debt from Stafford Loans When You Graduate

$23,000 As a Dependant Undergraduate Student

$46,00 as an Independent Undergraduate Student – Only 23,000 of this can be Subsidized

$138, 500 as a graduate professional student – Only $65,000 of this can be Subsidized.

 

- Parent Loan (PLUS) – Parent must submit a separate pre-approval form prior to the actual application process. 
      Contact your Financial Aid Counselor for the pre-approval and/or application

- Alternative Loan – You must submit a separate pre-approval form prior to the actual application process. 
            Contact your Financial Aid Counselor for the pre-approval and/or application

- Perkins Loan – A separate application and credit authorization is required.  Preference will be given to applicants with exceptional need and the ability to benefit from the prescribed cancellation privileges