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FEDERAL Loan limits

 

ANNUAL LOAN LIMITS FOR SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS
	Dependent Undergraduate Student	Independent Undergraduate Student	Graduate Student
1ST YEAR	$5,500 - Only $3,500 can be Subsidized	$9,500 – Only $3,500 can be Subsidized	$20,500 each academic year – Only 8,500 can be subsidized
2ND YEAR	$6,500- Only $4,500 can be Subsidized	$10,500 – Only $4,500 can be Subsidized
3RD & 4TH YEARS	$7,500- Only $5,500 can be Subsidized	$12,500 – Only $5,500 can be Subsidized
Maximum Total Debt from Stafford Loans When You Graduate	$31,000 As a Dependant Undergraduate Student (maximum $23,000 subsidized)	$57,500 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 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