What is the maximum amount of student loans you can get for undergraduate?
If you are an undergraduate, the maximum amount of Direct Subsidized and Direct Unsubsidized Loans you can borrow each academic year is between $5,500 and $12,500, depending on your year in school and your dependency status (whether you are a dependent or independent student).
What is the maximum Unsubsidized Stafford loan amount?
$20,500 per academic year
The unsubsidized loan limit for graduate or professional students is $20,500 per academic year.
How much can I borrow under a Stafford loan?
Dependent students are not allowed to borrow more than $31,000 in total through the Stafford program during undergraduate studies. Students who are independent can borrow as much as $9,500 in the first or freshman year, $10,500 in the second or sophomore year and $12,500 annually during their remaining school years.
What is the average direct Stafford loan?
This table shows the average federal education loan amount in 2014-2015, based on data from the Federal Student Aid Data Center….What is the average amount of a student loan?
| Loan Program | Degree Level | Average Loan Amount |
|---|---|---|
| Direct Subsidized Loan | Undergraduate | $3,565 |
Is Stafford loan per semester?
Federal Direct Stafford Student Loan Program. College of the Canyons participates in the Federal Direct Stafford Student Loan Program funded by the Federal government. Federal law requires that a student borrower must be enrolled at least half-time, defined as 6.0+ units per semester.
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.
