How much can I borrow under a Stafford Loan?
- Fixed interest rate - as low as 3.4%
- No payments while in school at least half-time
Loan limits below are for the 2012-2013 academic school year.
- The amount you can borrow is based on your grade level and your status as a student. Independent students may be eligible to borrow more because they are paying for college without assistance from their family.
- It is important to note that even if a student is financing their education on their own, dependency status is still determined by the school.
- Based on your award letter, you may not always qualify for the maximum Stafford Loan amount. For additional loan funding, consider private student loans which allow you to borrow up to the total cost of education less other financial aid received.
|Dependent Undergraduate Student||Independent Undergraduate Student*|
|Freshman||$3,500 plus $2,000 in unsubsidized loans||$9,500 - Max of $3,500 can be in subsidized loans|
|Sophomore||$4,500 plus $2,000 in unsubsidized loans||$10,500 - Max of $4,500 can be in subsidized loans|
|Juniors and Seniors||$5,500 plus $2,000 in unsubsidized loans||$12,500 - Max of $5,500 can be in subsidized loans|
|Maximum Total Debt from Stafford Loans||$31,000 (maximum $23,000 subsidized)||$57,500 - Max of $23,000 can be in subsidized loans|
*Independent student limits also apply to dependent students whose parent was denied a PLUS loan due to adverse credit history.
Stafford Loan Frequently Asked Questions
- Am I eligible for a Stafford Loan?
- How do I apply for a Stafford Loan?
- Are there Stafford Loan deadlines?
- What's the difference between unsubsidized and subsidized loans?
- When do I receive the Stafford Loan funds?
- What are the Stafford Loan interest rates?
- How much can I borrow under a Stafford Loan?
- What is EFC and how is it calculated?
- What can I use a Stafford Loan for?
- Are there specific schools that accept Stafford Loans?
- Why did I receive less than what I thought I would receive in Stafford Loan funds?
- Do I have to apply for a Stafford Loan every academic year?
- Can I receive a Stafford Loan if I have bad credit/declared bankruptcy/have late payments on credit cards?
- How can I bridge the financial gap between the total cost of education (including room and board, fees, books) and the amount of financial aid I was awarded?
- Will I pay any fees for a Stafford Loan?
- What are the repayment options for a Stafford Loan?
- What are the penalties for early payment or if the loan is paid in full before scheduled (deferred) payments begin?
- What are the Stafford Loan cancellation policies?