New Stafford Loan Limits | 05.07.08
Increase Annual and Aggregate Stafford Loan Limits
HR 5715, as passed by Congress, will increase the following loan amounts for loans first disbursed on or after July 1, 2008:
* Increases the additional unsubsidized Stafford annual limits by $2,000 for independent undergraduate students, and for dependent undergraduate students whose parents cannot borrow PLUS, but appears to reduce the additional unsubsidized limit for teacher certification to $6,000 for “undergraduate” students
Note – The original legislation also increased the additional unsubsidized Stafford annual limit for graduate and professional students by $2,000, but that provision was later eliminated by an amendment in the House
* Increases unsubsidized Stafford limits for dependent students by introducing additional unsubsidized amounts of $2,000
* Increases aggregate unsubsidized loan amounts for undergraduate dependent students from $23,000 to $31,000 (minus subsidized borrowing) but does not appear to extend additional unsubsidized funds for preparatory coursework or teacher certification for these students.
* Increases aggregate unsubsidized loan amounts for undergraduate independent students from $46,000 to $57,500 (minus subsidized borrowing) .
5 Most Recent Student Loans Blog Posts:
The Student Loan Help blog is sponsored in part by: