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Borrowing Restrictions

Borrowing Restrictions

The dining dining table below programs the yearly and aggregate borrowing limitations underneath the Direct Subsidized & Direct Unsubsidized Loan program. Observe that aggregate totals also consist of outstanding loans lent through the Federal that is former Family Loan Program (FFELP) which include Stafford Loans and Guaranteed figuratively speaking.

Dependent Undergraduate Independent Undergraduate Graduate
First Year Undergraduate $5,500
No more than $3,500 of this amount may be in subsidized loans year.
$9,500
No significantly more than $3,500 for this quantity may take subsidized loans.
2nd undergraduate $6,500
No more than $4,500 of this amount may be in subsidized loans year.
$10,500
No significantly more than $4,500 of the quantity may take subsidized loans.
Third and Beyond Undergraduate (each year) $7,500
No significantly more than $5,500 of the quantity could be in subsidized loans.
$12,500
No a lot more than $5,500 for this quantity may take subsidized loans.
Graduate and Professional Degree (every year) $20,500 Unsubsidized
(at the time of July 1, 2012, subsidized loans are not any longer open to graduate and degree that is professional. )
optimum debt that is totalaggregate loan limitations) $31,000
No significantly more than $23,000 with this quantity might be in subsidized loans.
$57,500
No significantly more than $23,000 for this quantity may maintain subsidized loans. These restrictions consist of any loans gotten being a student that is dependent.
$138,500
No a lot more than $65,500 with this quantity might maintain subsidized loans. The debt that is graduate includes loans gotten for undergraduate research.

In addition, effective for brand new borrowers on or after July 1, 2013, federal legislation limits the time of time which is why a borrower may receive Direct Subsidized Loans, in aggregate, to 150percent regarding the posted duration of the pupil’s current academic system. Continue reading Borrowing Restrictions