What is the maximum amount of money offered by the Direct Stafford loan for an undergraduate student?
$20,500 annually
Loan Terms Maximum Loan Amount: up to $20,500 annually (depending on your grade level, your status as a dependent or independent student, your status as an undergraduate or a graduate student, and your total cost of attendance).
What is the maximum amount of money you can borrow in the form of federal direct student loans?
If you are a graduate/professional student, the maximum amount you can borrow each academic year is $20,500 in Direct Unsubsidized Loans. A graduate/professional student is also eligible to borrow a Direct PLUS Loan.
Is Direct Stafford Loan per semester or year?
It is up to a student’s school to determine which loan type and loan amounts they receive every year. There are Direct Stafford Loan limits, which are determined by a student’s year in school and whether they are considered a dependent or independent student.
What’s the maximum amount a student can borrow on a direct Stafford Loan?
Both Direct Subsidized Loans and Direct Unsubsidized Loans also impose borrowing limits. There are both annual and aggregate limits to how much students can borrow. The chart below shows the maximum loan amount based on year of education: Up to $5,500, a maximum of $3,500 of which can be in subsidized loans.
Is there a lifetime limit on Stafford Loans?
Additionally, there is a lifetime limit on Stafford Loans, currently capped at $31,000 for dependent students, $57,500 for independent students, and $138,500 for graduate students. A subsidized Stafford Loan is one that the Federal government pays the interest on while a student is still in school.
Where can I get a direct Stafford Loan?
Direct Stafford loans, which are offered through the William D. Ford Federal Direct Loan program, are the basic building block of most students’ financial aid packages. Students using Stafford loans can typically borrow a significant amount of money regardless of their financial need, for both undergraduate and graduate school programs.
Are there limits to how much you can borrow for a student loan?
Subsidized Stafford Loans from the federal government are only available to those who are pursuing an undergraduate degree and who have a financial need. While direct subsidized loans ultimately cost the borrower less because of the covered interest payments, unsubsidized loans have fewer restrictions on how much can be borrowed.
