Loan Limits for Undergraduates

The United States Department of Education places loan limits on the amount of money in which a student can borrow through federal Stafford loan programs. Students who complete the FAFSA are eligible to receive a Federal Stafford subsidized loan and a Federal Stafford unsubsidized loan for the same enrollment period as longs as the annual loan limits are not exceeded. The annual limits are determined by classification and dependency status. Review the Dependency Status Worksheet to determine if you are a dependent or independent student for the 2009-2010 academic school year.

If you are defined as a dependent undergraduate student (excluding students whose parents cannot borrow PLUS Loans), each year you can borrow up to:

$5,500 (for loans first disbursed on or after July 1, 2008) if you are a first-year student enrolled in a program of study that is at least a full academic year. No more than $3,500 of this amount can be in subsidized loans. The additional $2,000 is in the form of an unsubsidized loan.

$6,500 (for loans first disbursed on or after July 1, 2008) if you are a second year student and the remainder of your program is at least a full academic year. No more than $4,500 of this amount can be in subsidized loans. The additional $2,000 is in the form of an unsubsidized loan.

$7,500 (for loans first disbursed on or after July 1, 2008) if you area third or fourth year student completed two years of study and the remainder of your program is at least a full academic year. No more than $5,500 of this amount can be in subsidized loans. The additional $2,000 is in the form of an unsubsidized loan.

An additional unsubsidized loan is available if the parent is unable to borrow a parent plus loan due to having adverse credit. The additional unsubsidized loan amounts for a dependent student is $4,000 for 1st and 2nd year students and $5,000 for 3rd and 4th year students.

If you are defined as an independent undergraduate student each year you can borrow up to: