|
Federal
Stafford Loan Limits - Effective for
loans first disbursed
on or after July 1, 2007
|
|
Academic Year
|
Dependent Student
|
Independent
Student
|
|
Sub
& Unsubsidized
|
Sub
& Unsubsidized
|
Additional
Unsubsidized
|
Maximum
Sub & Unsubsidized
|
|
First Year
|
$3,500
|
$3,500
|
$4,000
|
$7,500
|
|
Second Year
|
$4,500
|
$4,500
|
$4,000
|
$8,500
|
|
Third & Remaining
Years
|
$5,500
|
$5,500
|
$5,000
|
$10,500
|
|
Graduate/Professional
|
----
|
$8,500
|
$12,000
|
$20,500
|
|
Aggregate Limits
|
|
|
|
|
|
Dependent Undergraduate
|
$23,000
|
----
|
----
|
$23,000
|
|
Independent Undergraduate
|
-----
|
$23,000
|
$23,000
|
$46,000
|
|
Graduate/Professional
|
-----
|
$65,500
|
$73,000
|
$138,500
|
Students taking coursework for
state teaching accreditation have $7,000 annual loan
limit.
Annual PLUS (parent
loans for undergraduate students) Loan Limits
The total PLUS Loan amount borrowed
by one or more parents (including non-custodial parent)
may not exceed the student’s estimated cost of
attendance minus other financial aid awarded for the
period of enrollment.
Annual PLUS Loan
Limits for Graduate Students
Graduate and professional degree students are now
eligible to borrow PLUS loans. The amount borrowed
may not exceed the student’s estimated cost of
attendance minus other financial aid awarded for the
period of enrollment.
They also must have applied for their annual loan
maximum eligibility under the Federal Subsidized and
Unsubsidized Stafford Loan Program before applying for a
Graduate/Professional PLUS loan.
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