Student loans can effectively fund your education, but it’s crucial to remember that, like car loans, mortgages, and credit cards, they are debts that must be repaid by the borrower, whether that’s the student or the parent.
Student loans come with specific limits. Understanding both the annual and lifetime (aggregate) maximum amounts available is essential. It’s important to be aware of your debt.
The maximum amount you can borrow each year in Direct Subsidized and Unsubsidized Loans depends on your grade level and whether you are a dependent or independent student.
The following table outlines the maximum annual borrowing limits:
| Academic Year Level | Dependent Student (1) | Independent Student (2) |
| First-Year Undergraduate | $5,500 ($3,500) | $9,500 ($3,500) |
| Second-Year Undergraduate | $6,500 ($4,500) | $10,500 ($4,500) |
| Third- and Fourth-Year Undergraduate | $7,500 ($5,500) | $12,500 ($5,500) |
| Graduate/Professional | Not Applicable | $20,500 |
(1) Except those whose parents are unable to borrow a PLUS loan.
(2) These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.
(3) The numbers in parentheses represent the maximum amount that may be subsidized.
Note: The actual loan amount you are eligible to receive for an academic year is determined by your school and may be less than the maximum annual amounts shown in the chart above.
Below are the aggregate (total) limits for Direct Subsidized and Unsubsidized Loans:
These aggregate limits include both Direct Subsidized and Unsubsidized Loans
With a Direct PLUS Loan, a graduate/professional student or the parent of a dependent student can borrow up to the cost of the student’s attendance minus other financial aid the student receives.
Smart borrowing means limiting your borrowing so that you do not reach your aggregate limits before graduating with your intended degree. It also means graduating with minimal debt.
Discuss with your advisor or financial aid counselor to establish a plan for minimizing the debt you take on while attending your institution!
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