What is the max I can get in Stafford loans? | 04.28.10

Posted in Financial Aid, Stafford Loan By Student Loan Network Staff

Now that we’re getting close to May, financial aid award packages should be going out in the mail to continuing and new students in the next few weeks. We get a lot of questions in our financial aid forum relating to what the ceilings are per year for federal student loans, so let’s explore the figures for the 2010-2011 academic year:

If you are a dependent student (under 24 years old)–

1st Year – $3,500 subsidized, up to $2,000 unsubsidized = $5,500 max
2nd Year – $4,500 subsidized, up to $2,000 unsubsidized = $6,500 max
3rd Year and Beyond  – $5,500 subsidized, up to $2,000 unsubsidized = $7,500 max

Lifetime Maximum = $23,000 subsidized, up to $8,000 unsubsidized = $31,000

If you are an independent student (24 or older)–

1st Year – $3,500 subsidized, up to $6,000 unsubsidized = $9,500 max
2nd Year – $4,500 subsidized, up to $6,000 unsubsidized = $10,500 max
3rd Year and Beyond  – $5,500 subsidized, up to $7,000 unsubsidized = $12,500 max

Lifetime Maximum = $23,000 subsidized, up to $34,500 unsubsidized = $57,500

Note that these figures are for undergraduate students. Graduate students can take out greater amounts of loans per year due to the higher costs of post-baccalaureate education.

Also, there is an exception to the annual maximums if your parent applies for a Parent PLUS loan and is denied. In some cases, the Department of Education may make a special exception and lend more unsubsidized money to a student, but it still applies toward the immutable lifetime limit.


5 Most Recent Student Loans Blog Posts:


The Student Loan Help blog is sponsored in part by:


21 Responses to “What is the max I can get in Stafford loans?”

  1. Marie says on May 27, 2010 at 11:01 am:

    wow !..thank you

    Reply To This Comment
  2. Shafina says on May 27, 2010 at 10:25 am:

    Thanks. I may use this if i end up having to be in loans.

    Reply To This Comment
  3. Dee says on May 25, 2010 at 7:24 am:

    thanks!

    Reply To This Comment
  4. nick says on May 24, 2010 at 9:58 am:

    thanks

    Reply To This Comment
  5. Sloane says on May 20, 2010 at 9:36 pm:

    Wow. Loans are necessary.

    Reply To This Comment
  6. l.t says on May 16, 2010 at 6:44 pm:

    very informational

    Reply To This Comment
  7. Steph says on May 16, 2010 at 6:03 pm:

    Thanks for the information I will be needing some loans.

    Reply To This Comment
  8. ashleigh says on May 11, 2010 at 5:05 pm:

    very helpful
    i need student loans
    but im afraid to be in debt forever

    Reply To This Comment
  9. Gary Jr. says on May 6, 2010 at 4:27 pm:

    It must be paid back. No doubt about it! Gary

    Reply To This Comment
  10. daniel says on May 2, 2010 at 10:49 am:

    Thnx for the info

    Reply To This Comment
  11. Brittany says on May 2, 2010 at 2:07 pm:

    this is extremely helpful i need LOTS of loans!

    Reply To This Comment
  12. Umeda says on May 1, 2010 at 5:50 am:

    very helpful!

    Reply To This Comment
  13. Stef says on April 30, 2010 at 1:48 am:

    I was wondering how much i could possibly get this coming year so its good information.

    Reply To This Comment
  14. kelsey says on April 29, 2010 at 11:39 pm:

    thank you for the information. It really helps!

    Reply To This Comment
  15. Tdthompson says on April 29, 2010 at 2:52 pm:

    It sure helps me understand

    Reply To This Comment
  16. Loans Next day says on April 29, 2010 at 1:37 pm:

    Ohh i see! i didnt knew the calculation. Thanks for sharing this with us.

    Reply To This Comment
  17. SNemo says on April 29, 2010 at 2:25 am:

    This is interesting. I am always offered this type of scholarship, but I was unaware about what it entails. There's even a Stafford Loan Workshop that I've heard about.

    Reply To This Comment
  18. Jasmine says on April 29, 2010 at 12:30 am:

    thanks for the information =)

    Reply To This Comment
  19. Angela says on April 29, 2010 at 12:02 am:

    It's very confusing know that i'm a senior and looking for options to pay for a high cost education can be overwhelming. It's good to know that besides scholarships there are other options. Thank You

    Reply To This Comment
  20. maira72 says on April 28, 2010 at 3:52 pm:

    thanks forthe information i am a senior in highschool and looking towards a loan

    Reply To This Comment
  21. Lauren says on April 28, 2010 at 4:53 pm:

    This is helpful information, because I am in my third year, and this gives me an idea of how much I will be personally responsible for through private loans (assuming I'm eligible for the max).

    Reply To This Comment

Leave a Reply

By clicking 'Submit Comment', you agree to the Edvisors Terms of Use and Privacy Policy.