03.10.10 | Borrowing Limits for Stafford Loans (2010-2011)
One question we often receive is how much a student can take out per year in federal Stafford loans. I’ve gone ahead and compiled all that information for you here.
Note that these figures are the totals, including subsidized and unsubsidized Stafford loans. They must also obey the lifetime limit for federal loans:
- Dependent Undergraduate: $31,000
- Independent Undergraduate: $57,500
- Graduate/Professional: $138,500
- Medical: $224,000
Borrowing Limits
Dependent Undergraduate
- $5,500 – First-year Students
- $6,500 – Second to third-year students
- $7,500 – Third-year or later students
Independent Undergraduate
- $9,500 – First-year Students
- $10,500 – Second to third-year students
- $12,500 – Third-year or later students
Graduate / Professional Students
- $20,500 / year
If you have any questions about these numbers, head over to our Financial Aid Forum, and make a post. We are really good about answering questions within a day or so.
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Filed under: Financial Aid, Stafford Loan
How can they go to college for free? They still have to repay after they graduate don't they, aside from receiving a higher pell grant I would assume I don't see much more benefit? I don't know how that works to be honest because I don't have children, however I know what you mean swimming in debt, trying to work full time and be a full time student can be a pain, so if those 'women who can't keep their legs closed' (lol) can get a free education as you say then more power to them. It's a shame we're seeing all these increases and I know I'm not alone when I say the 24% increase is RIDICULOUS! Just when they were talking about providing more benefits for people in and going back to school for some sort of debt relief. My tuition increased 6% which worked out to be 20dollars more per credit and I thought that was a lot until I read about the 24% geesh I hope it works out for you disappointed student, though it may not seem like it due to all the debt a higher education is well worth it at the end of the day so hang in there
June 24th, 2010 | #
No, higher education is also for the females that can't keep their legs closed. All the pregnant girls get to go to college for free. I also am swimming in debt, but if I would have had my son before graduating from college; I would be debt free. Instead I have loans I can't afford and support myself and my child. Sometimes you pay for making the right choices. Good luck to you!
June 8th, 2010 | #
Our wonderful governor of the state of Virginia let VCU's tuition increase by 24% starting in 2010 Fall ! Great, now I can just swim in more debt. Gee, Thanks, McDonnell. It couldn't even have been a graduated increase. I didn't get a 24% increase in my wages nor did my parents get a 24% increase in their salaries. I'm already working 40 hours a week and I'm a full-time student. I ask you, Governor McDonnell, WHERE IS THIS MONEY SUPPOSED TO COME FROM????? OR IS HIGHER EDUCATION JUST FOR THE RICH???????????????????????????????
May 6th, 2010 | #