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

• 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?

Apply for the Federal Stafford Loan