Federal Direct Loan Limits & Aggregate Limits
FEDERAL SUBSIDIZED AND UNSUBSIDIZED
DIRECT LOAN LIMITS & ORIGINATION FEES
The maximum Direct Loan a student may borrow for an academic year is determined by the student’s dependency status (as determined on the FAFSA), the number of academic credits the student has earned at the time the loan is processed and other aid the student may be receiving.
|
Grade Level |
Dependent Student |
Independent Student or |
|
Freshman (0-23 credits) |
$5,500 |
$9,500 |
|
Sophomore (24-53 credits) |
$6,500 |
$10,500 |
|
Junior (54-83 credits) |
$7,500 |
$12,500 |
|
Senior (84+ credits) |
$7,500 |
$12,500 |
|
Graduate & Law Programs |
N/A - all grad & law students are considered independent |
$20,500 |
NOTE: To be eligible for Graduate/Law loan limits, Graduate/Law students must be enrolled in 6 credit hours that can be applied to the Graduate/Law program requirements
IMPORTANT FEE INFORMATION
Direct Loans disbursed after July 1, 2009 are reduced by fees of 1%
As part of the changes to the student loan programs made by the Higher Education Reconciliation Act of 2005 (the HERA), Pub. L. 109-171, the origination fee for Direct Subsidized Loans and Direct Unsubsidized Loans will again be reduced as explained below. The up-front interest rebate will also be reduced. In summary --
- For all Direct Subsidized Loans and Direct Unsubsidized Loans for which the earliest disbursement date is on or after July 1, 2010 toJune 30, 2012, the up-front interest rebate changed from 1.0 percent to 0.5 percent.
- NEW: The Direct Loan Programs - Due to the budget Control Act of 2011, the instant upfront rebate will no longer be offered on loans through the Direct Loan Programs which are first disbursed on or after July 1, 2012
NOTE: The Direct PLUS Loan origination fee is not changing and will remain at 4.0 percent for Direct PLUS Loans made to both parent borrowers and graduate/professional student borrowers.
|
If the award's earliest disbursement date is... |
the origination fee is... |
and the up-front interest rebate is... |
|
On or after July 1, 2010 to June 30, 2012 |
1.% |
0.5% |
|
On or after July 1, 2012 |
1.0% |
0% -- no rebate |
AGGREGATE DIRECT LOAN LIMITS
|
Dependent Undergraduate Student |
Independent Undergraduate Student or Dependent Student whose parent is ineligible for PLUS loan due to adverse credit |
Graduate/Professional Student |
|
$31,000 (no more than $23,000 can be subsidized) |
$57,500 (no more than $23,000 can be subsidized) |
$138,500 (no more than $65,500 can be subsidized) Graduate debt limit includes amount borrowed as an undergraduate student. |
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