Qualifications and Loan Limits

Stafford Loans:

Students cannot borrow Stafford loans which exceed their cost of education less financial aid received. Listed below are the maximum Stafford loan amounts students may borrower based on their grade level:

Grade Level 1 $3,500
Grade Level 2 $4,500
Grade Level 3 or 4 $5,500
Graduate/Professional Students $8,500

The maximum aggregate loan limit for Stafford loans is $23,000 for undergraduate students and $65,000 for graduate or professional students.

Independent, graduate, and professional students or dependent students whose parents were denied a parent PLUS loan may be eligible for additional loan amounts in the Unsubsidized Stafford loan program. Listed below are the maximum additional Unsubsidized Stafford loan amounts students may borrow based on their grade level:

Grade Level 1 or 2 $4,000
Grade Level 3 or 4 $5,000
Graduate/Professional Students $12,000

The maximum aggregate additional Stafford loan limit is $23,000 for undergraduate students and $73,000 for graduate or professional students.

PLUS Loans:

Under the PLUS loan program, parents of undergraduate students are eligible for the student’s cost of education minus any financial aid they will receive. There are no aggregate loan limits under this loan program.