Loan Limits and Interest Rates
Direct Stafford Loan Limits (Subsidized and Unsubsidized) |
|||
|---|---|---|---|
Undergraduate Students |
Graduate Students |
||
Dependent1 |
Independent2 |
||
1st-year |
$5,500 ($3,500)3 |
$9,500 ($3,500) |
$20,500 ($8,500) for each year |
2nd-year |
$6,500 ($4,500) |
$10,500 ($4,500) |
|
3rd- and 4th-year |
$7,500 ($5,500) |
$12,500 ($5,500) |
|
Aggregate
|
$31,000 ($23,000) |
$57,500 ($23,000) |
$138,5004 ($65,500) |
1Except those whose parents are unable to borrow a PLUS loan.
2These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.
3The numbers in parentheses represent the maximum amount that may be subsidized.
4The aggregate amounts for graduate students include loans for undergraduate study.
Source: Department of Education, 2012
Interest Rate
The interest rate for all subsidized loans disbursed from July 1, 2012 to June 30, 2013 will be 3.4%. The interest rate for unsubsidized loans disbursed during this time period will be 6.8%.