Financial Aid Office

Federal Direct Loan Limits & Aggregate Limits

FEDERAL SUBSIDIZED AND UNSUBSIDIZED
DIRECT LOAN LIMITS & ORIGINATION FEES

The maximum Direct Loan a student may borrow for an academic year is determined by the student’s dependency status (as determined on the FAFSA), the number of academic credits the student has earned at the time the loan is processed and other aid the student may be receiving.  

Grade Level

Dependent Student

Independent Student or
Dependent Student whose Parent is ineligible for PLUS loan

Freshman (0-23 credits)

$5,500  
(max $3,500 subsidized)

$9,500
(max $3500 subsidized)

Sophomore (24-53 credits)

$6,500  
(max $4500 subsidized)

$10,500
(max $4500 subsidized)

Junior (54-83 credits)

$7,500  
(max $5500 subsidized)

$12,500
(max $5500 subsidized)

Senior (84+ credits)

$7,500  
(max $5500 subsidized)

$12,500
(max $5500 subsidized)

Graduate & Law Programs

N/A - all grad & law students are considered independent

$20,500

NOTE:  To be eligible for Graduate/Law loan limits, Graduate/Law students must be enrolled in 6 credit hours that can be applied to the Graduate/Law program requirements

 
IMPORTANT FEE INFORMATION

***NEW***  Under the terms of the sequester, the loan fees for the Subsidized Direct Loan and Unsubsidized Direct Loan will increase from 1.051% to 1.072%.  Direct Loans first disbursed on or after December 1, 2013 are reduced by fees of 1.072%

***NEW***  Under the terms of the sequester, the loan fees for the Subsidized Direct Loan and Unsubsidized Direct Loan will increase from 1.0% to 1.051%.  Direct Loans first disbursed on or after July 1, 2013, and prior to December 1, 2013, are reduced by fees of 1.051%

Direct Loans disbursed after July 1, 2009 are reduced by fees of 1%

As part of the changes to the student loan programs made by the Higher Education Reconciliation Act of 2005 (the HERA), Pub. L. 109-171, the origination fee for Direct Subsidized Loans and Direct Unsubsidized Loans will again be reduced as explained below.  The up-front interest rebate will also be reduced.  In summary --

For all Direct Subsidized Loans and Direct Unsubsidized Loans for which the earliest disbursement date is on or after July 1, 2010 to June 30, 2012, the up-front interest rebate changed from 1.0 percent to 0.5 percent. 

***NEW*** Under the terms of the sequester, the loan fees for the Direct PLUS Loan will increase from 4.204% to 4.288%.   Direct PLUS Loans first disbursed on or after December 1, 2013 are reduced by fees of 4.288% for Direct PLUS Loans made to both parent borrowers and Graduate/Professional student borrowers.

***NEW*** Under the terms of the sequester, the loan fees for the Direct PLUS Loan will increase from 4% to 4.204%.   Direct PLUS Loans first disbursed on or after July 1, 2013 and prior to December 1, 2013 are reduced by fees of 4.204% for Direct PLUS Loans made to both parent borrowers and Graduate/Professional student borrowers.

The Direct PLUS Loan origination fee for loans disbursed prior to July 1, 2013 is 4.0 percent.

The Direct Loan Programs - Due to the budget Control Act of 2011, the instant upfront rebate will no longer be offered on loans through the Direct Loan Programs which are first disbursed on or after July 1, 2012

  the origination fee is... and the up-front interest rebate is...
On or after July 1, 2010 to
June 20, 2012
1.0% 0.5%

On or after July 1, 2012 to
June 30, 2013

1.0% 0% -- no rebate
On or after july 1, 2013 to
November 30, 2013
1.051% 0% -- no rebate
On or after December 1, 2013 1.072% 0%  -- no rebate

 


AGGREGATE DIRECT LOAN LIMITS

Dependent Undergraduate Student

Independent Undergraduate Student or Dependent Student whose parent is ineligible for PLUS loan due to adverse credit

Graduate/Professional Student

$31,000 (no more than $23,000 can be subsidized)

$57,500 (no more than $23,000 can be subsidized)

$138,500 (no more than $65,500 can be subsidized) Graduate debt limit includes amount borrowed as an undergraduate student.