Borrowing limits
Annual loan amounts
The amount in loan funds that you are eligible to borrow each academic year is limited by the following factors:
- grade level
- dependent or an independent student
- financial need
- cost of attendance
| DEPENDENT undergraduates | Base amount | Additional unsubsidized loan | Total annual combined maximum amount |
|---|---|---|---|
| Freshman | $3,500 | $2,000 | $5,500 |
| Sophomore | $4,500 | $2,000 | $6,500 |
| Junior/senior | $5,500 | $2,000 | $7,500 |
| Prep coursework for entry into an undergraduate program | $2,625 | 0 | $2,625 |
| Teacher certification coursework, approved post-baccalaureate certificate program or prep coursework for entry into a graduate/professional program | $5,500 | 0 | $5,500 |
| INDEPENDENT undergraduates (and dependent students whose parents are denied a PLUS Loan) | Base amount | Additional unsubsidized loan | Total annual combined maximum amount |
|---|---|---|---|
| Freshman | $3,500 | $6,000 | $9,500 |
| Sophomore | $4,500 | $6,000 | $10,500 |
| Junior/senior | $5,500 | $7,000 | $12,500 |
| Prep coursework for entry into an undergraduate program | $2,625 | $6,000 | $8,625 |
| Teacher certification coursework, approved post-baccalaureate certificate program or prep coursework for entry into a graduate/professional program | $5,500 | $7,000 | $12,500 |
Undergraduate grade level
Grade level is determined according to the number of credits that an undergraduate student has completed.
Freshman: 0 to 28.99 credits, inclusive
Sophomore: 29 to 55.99 credits, inclusive
Junior: 56 to 87.99 credits, inclusive
Senior: 88 credits and above
Graduate and professional students
Graduate and professional students are no longer eligible to receive Federal Direct Subsidized Loans. The annual Stafford Loan limit for graduate and professional students remains unchanged.
| Students | Unsubsidized annual limit | Total annual maximum amount |
|---|---|---|
| Graduate students | $20,500 | $20,500 |
| Graduate students in certain health professions | Unsubsidized annual limit | Total annual maximum amount |
|---|---|---|
| Doctor of pharmacy, doctor of clinical psychology | $20,500 plus $12,500-$16,667, depending on the length of the program academic year | $33,000-$37,167, depending on the length of the program academic year |
| Medical Students | Unsubsidized annual limit | Total annual combined maximum amount |
|---|---|---|
| Allopathic medicine | $20,500 plus $20,000-$26,667, depending on the length of the program academic year | $40,500-$47,167, depending on the length of the program academic year |
Lifetime aggregate loan limits
| Student level | Lifetime maximum loan limit |
|---|---|
| Undergraduate dependent students (including second baccalaureate, teacher certification and post-baccalaureate certificate programs) | $31,000 (of which no more than $23,000 can be subsidized loans) |
| Undergraduate independent students (including second baccalaureate, teacher certification and post-baccalaureate certificate programs) | $57,500 (of which no more than $23,000 can be subsidized loans) |
| Graduate/professional students | $138,500, including undergraduate loans (of which no more than $65,500 can be subsidized loans) |
| Allopathic medicine and other graduate students in certain health professions | $224,000, including undergraduate loans (of which no more than $65,500 can be subsidized) |
Loan proration
Your annual Federal Direct loan amount may be prorated if you finish your undergraduate program at the end of the fall semester.
Loan proration formula
Number of credit hours enrolled ÷ 24 (number of credit hours in the academic year) × the annual loan limit
Example of loan proration for a student enrolled full-time -
12 (number of credit hours enrolled) ÷ 24 (number of credit hours in the academic year) × $5,500 = $2,750