Stafford Loan Borrowing Limits
Financial Need and Cost of Education Limits:
In addition to the annual and aggregate Stafford Loan borrowing limits, Stafford Loans cannot exceed the following Financial Need and Cost of Education limits:
- a student's total Subsidized Stafford Loans, need-based loans, grants, scholarships, tuition waivers, Federal Work-Study, and other non-loan educational benefits cannot exceed his or her gross Financial Need.
- a student's total Subsidized and Unsubsidized Stafford Loans and all other forms of aid (other educational loans, grants, scholarships, tuition waivers, and all other educational benefits) cannot exceed his or her Projected Cost of Education.
The following chart illustrates the annual and aggregate loan limits for the subsidized and unsubsidized Stafford loans first disbursed on or after July 1, 2008.
The limits may be a little confusing because there are two sets of limits for the Stafford loan: a combined base limit for the subsidized and unsubsidized Stafford loan, and an additional limit for just the unsubsidized Stafford loan. In effect, the subsidized Stafford loan is limited to the amounts in the "Combined Base Limit" column and the unsubsidized Stafford loan is limited to the amounts in the "Total Limit" column minus the amount of any subsidized Stafford loans.
Many students combine subsidized loans with unsubsidized loans to borrow the maximum amount permitted each year.
Annual Borrowing Limits for Dependent Students (and Undergraduate Students whose parents were not denied a PLUS loan):
| Grade Level | Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| First-Year Undergraduate (Freshman) | $3,500 | $2,000 | $5,500 |
| Second-Year Undergraduate (Sophomore) | $4,500 | $2,000 | $6,500 |
| Third-Year and Beyond Undergraduate (Junior, Senior) | $5,500 | $2,000 | $7,500 |
Annual Borrowing Limits for Independent Students (and dependent students whose parents were denied a PLUS loan):
| Grade Level | Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| First-Year Undergraduate (Freshman) | $3,500 | $6,000 | $9,500 |
| Second-Year Undergraduate (Sophomore) | $4,500 | $6,000 | $10,500 |
| Third-Year and Beyond Undergraduate (Junior, Senior) | $5,500 | $7,000 | $12,500 |
| Graduate or Professional | $8,500 | $12,000 | $20,500 |
Lifetime Borrowing Limits:
| Grade Level | Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| Dependent Undergraduate Students (whose parents were not denied a PLUS loan) | $23,000 | $8,000 | $31,000 |
| Independent Undergraduate Students (and dependent students whose parents were denied a PLUS loan) | $23,000 | $34,500 | $57,500 |
| Graduate or Professionsal | $65,000 | $57,500 | $138,500 |
*Aggregate limits for graduate students include loans borrowed as an undergraduate student.
