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 |