Loan Rates & Borrowing Limits

Borrowing Loan Limits

Annual loan limits are determined by class standing (freshman, sophomore, etc.) and dependency status

Below are federal limits that indicate how much a student may borrow during one academic year based on the student grade level. The annual loan amounts are as follows:

 

Loan Borrowing Limits (Fall & Spring)
Dependent Maximum Subsidized Additional Unsubsidized Combined Sub & Unsub
Freshman $3,500 $2,000 $5,500
Sophomore $4,500 $2,000 $6,500
Junior/Senior $5,500 $2,000 $7,500
Independent Maximum Subsidized Additional Unsubsidized Combined Sub & Unsub
Freshman $3,500 $6,000 $9,500
Sophomore $4,500 $6,000 $10,500
Junior/Senior $5,500 $7,000 $12,500
Graduate N/A $20,500 $20,500

 

The maximum total loan limits you may receive throughout your academic career is known as the aggregate loan limit. A student who exceeds the aggregate loan limit is ineligible to receive any Title IV funding. The total aggregate loan limits are as follows:

 

Total Aggregate Limits
  Maximum Subsidized Additional Unsubsidized Combined Sub & Unsub
Dependent Undergraduate $23,000 $8,000 $31,000
Independent Undergraduate $23,000 $34,500 $57,500
Graduate (includes Undergraduate amount) $65,500 $73,000 $138,500

 

Loan Interest Rates & Fees
Loan Type

Interest Rate Effective Date

(07/01/20 - 07/01/21)

Loan Fees First Disbursement Date

(On or after 10/01/18 and before 10/01/19)

Loan Fees First Disbursement Date

(On or after 10/01/19 and before 10/01/20)

Undergraduate Direct Loans

(Subsidized & Unsubsidized)

2.75% 1.062% 1.059%

Direct Parent PLUS Loan

(Undergraduate Dependent Students)

5.03% 4.248% 4.236%

Graduate Direct

(Unsubsidized Loan)

4.30% 1.062% 1.059%
Direct Graduate PLUS Loan 5.03% 4.248% 4.236%

 

Federal Direct Stafford Loans: Medical Student Annual and Aggregate Loan Limits

Effective for all periods of enrollment beginning after 7/1/2012 - Graduate and Professional Students Stafford Loan eligibility will be limited to Unsubsidized Stafford Loans only

 

Federal Stafford Loans Limits
Academic Year Annual Limit Notes
Medical Cohort 1 (10 month program) $42,722 Beginning with 2012-2013 - all Graduate Stafford loans will be Unsubsidized
Medical Cohort 2 (9 month program) $40,500 Beginning with 2012-2013 - all Graduate Stafford loans will be Unsubsidized
Medical Cohort 3 (11 month program) $44,944 Beginning with 2012-2013 - all Graduate Stafford loans will be Unsubsidized
Medical Cohort 4 (11 month program) $44,944 Beginning with 2012-2013 - all Graduate Stafford loans will be Unsubsidized
Aggregate Limits (Maximum total debt from Stafford Loans) $224,000 No more than $65,500 in Subsidized Stafford Loans
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