The maximum amount you can borrow each year in Direct Subsidized and Unsubsidized Loans depends on your grade level and on whether you are a dependent student or an independent student. The actual loan amount you are eligible to receive for an academic year is determined by your school and may be less than the maximum annual amounts shown in the chart below.
PLEASE NOTE: The Budget Control Act. of 2011 makes the following changes to the William D. Ford Direct Loan Program:
The following table shows the maximum amount of money you may borrow each academic year in Direct Subsidized and Unsubsidized Loans:
|Dependent Student||Independent Student|
|1st-year undergraduate||$5,500 (maximum $3,500 subsidized)||$9,500 ( $3,500)|
|2nd-year undergraduate||$6,500 ( $4,500)||$10,500 ($4,500)|
|3rd-and 4th-year undergraduate||$7,500 ($5,500)||$12,500 ($5,500)|
|Graduate/professional||NA (All graduate and professional students are considered independent||$20,500 unsubsidized|
1Except those whose parents are unable to borrow a PLUS loan
(appropriate documentation is required).
2These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.
3The numbers in parentheses represent the maximum amount that may be subsidized.
Aggregate (total) limits for Direct Subsidized and Unsubsidized Loans:
These aggregate limits include both Direct Subsidized and Unsubsidized
Loans and any subsidized and unsubsidized Federal Stafford Loans received
through the Federal Family Education Loan (FFEL) Program.
There is no fixed annual loan limit on Direct PLUS Loans for Parent or Grad PLUS borrowers. PLUS borrowers may borrow up to the cost of attendance for the period of enrolment, minus other estimated financial assistance (EFA) received for that period. EFA includes Direct Subsidized Loan and/or Direct Unsubsidized Loan amounts that student may receive for that period of enrolment as well as other financial assistance received.