What is the maximum amount a student can borrow from the Stafford Loan?
Dependent/Independent 0 – 35 credits (first year student) $3,500*/$9,500 36 – 71 credits (second year student) $4,500*/$10,500 72 -107 credits (third year student) $5,500*/$12,500 108+ credits (fourth year student) amount is determined by number of credits These loan amounts are divided by three and applied equally to three terms. Therefore, a first year student will receive $1,167 minus fees for their first term, $1,167 minus fees for their second term, and $1,166 minus fees for their third term. *Dependent students are also eligible in the 2009-2010 financial aid year for an additional $2000 unsubsidized Stafford loan. Payment begins 6 months after the student graduates, stops attending, or drops below 6 credits.
Related Questions
- Can a school deny a students eligibility to borrow a Federal Stafford Loan based solely on the fact that his or her parent has defaulted on a Federal PLUS Loan?
- How can a dependent student borrow an Additional Unsubsidized Direct Stafford Loan?
- What is the maximum amount a student can borrow from the Stafford Loan?
