How much can I borrow under a Stafford Loan?

Loan limits below are for the 2006-2007 academic school year. However, Stafford Loan limits are expected to increase for the 2007-2008 school year.

  Dependent Undergraduate Student Independent Undergraduate Student*

Freshman

$3,500 $7,500 - Max of $3,500 can be in subsidized loans

Sophomore

$4,500 $8,500 - Max of $4,500 can be in subsidized loans

Juniors and Seniors

$5,500 $10,500 - Max of $5,500 can be in subsidized loans

Maximum Total Debt from Stafford Loans:

$23,000 $46,000 - Max of $23,000 can be in subsidized loans

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.

* Independent undergraduate students or dependent undergraduates whose parents are unable to get a PLUS loan qualify under this category.

Do you have a question that hasn't been answered? Contact us and we'll be glad to help you.

Stafford Loan Frequently Asked Questions