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Loan Limits and Interest Rates

Maximum Annual Loan Limits

Borrower's Academic Level
Classification
Dependent Student
Sub & Unsub
Independent Student
Sub
Independent Student
Unsub
Freshman
$5,500
$3,500
$6,000
Sophomore
$6,500
$4,500
$6,000
Junior/Senior
$7,500
$5,500
$7,000
Graduate
N/A
$8,500
$12,000
Graduate (effective July 1, 2012)
N/A
N/A
$20,500

Aggregate Loan Limits

Dependent
Undergraduates
Subsidized + Unsubsidized
(No more than $23,000 can be Subsidized)
$31,000
Independent
Undergraduates
Subsidized only
$23,000
Graduates
Unsubsidized & Subsidized
$57,500
Graduates
Unsubsidized + Subsidized
(Includes undergraduate loans)
$138,500

Interest Rate

The interest rate for all undergraduate subsidized and unsubsidized loans disbursed from July 1, 2014 to June 30, 2015 will be 4.66%. The interest rate for graduate unsubsidized loans disbursed during this time period will be 6.21%.

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