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Home >> Lending >> Student Loans
What Are the Limits on Borrowing under the Stafford Loan Program?
How much money can I borrow under the Stafford loan program? School is a lot more expensive than I had thought!
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 If you are a dependent student (someone else claims you as a dependent for tax purposes), you can borrow up to $5,500 ($3,500 subsidized) for your freshman year at college, $6,500 ($4,500 subsidized) for your sophomore year, and $7,500 ($5,500 subsidized) for your junior or senior year or for seniors with a degree, with an undergraduate lifetime limit of $31,000 (no more than $23,000 of which can be subsidized).
If you are an independent student, the per year limits are $9,500 ($3,500 subsidized) for freshmen, $10,500 ($4,500 subsidized) for sophomores, and $12,500 ($5,500 subsidized) for juniors and seniors, seniors with degrees and professionals, with a lifetime cap of $57,500 ($23,000 subsidized).
You can generally borrow an additional $20,500 ($8,500 subsidized) for each year of attendance at a graduate or professional school (with some exceptions), with a lifetime cap of $138,500 ($65,000 subsidized) on all loans for undergraduate, graduate and professional study. Higher limits apply for students enrolled in certain health profession programs.
Published on BankingQuestions.com 7/28/06.
Updated 8/19/2008.
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