Student Loan Limits: What You Should Know | 06.16.11

Posted in Student Loans By Student Loan Network Staff

When looking for student loans, there are a number of things to compare, and loan limits is just one example. Because of low loan limits, students often have to get multiple loans to cover all of their expenses. We suggest getting a federal loan first, if eligible, because they offer better borrower benefits, such as deferment and income based repayment plans. However, if you’ve hit your federal limit and still come up short on funds, private loans can be a good way to fill the gap.

Federal Loan Limits

Federal loan limits change depending on year of school, as well as whether a student is dependent or independent. Check out the table below for the complete loan limit information.

Loan Type Annual Loan Limit Lifetime Limit
Perkins Loan $5,500 Undergrad.
$8,000 Grad.
$27,500 Undergrad.
$60,000 Undergrad. & Grad.
Direct Subsidized Stafford Loan
(Dependent Students)
Year 1: $3,500
Year 2: $4,500
Year 3+: $5,500
$23,000
Direct Subsidized Stafford Loan
(Independent Students)
Year 1: $3,500
Year 2: $4,500
Year 3+: $5,500
Grad: $6,500
$23,000
Direct Unsubsidized Stafford Loan
(Dependent Students)
$2,000 all years $8,000
Direct Unsubsidized Stafford Loan
(Independent Students)
Year 1: $6,000
Year 2: $6,000
Year 3+: $7,000
Grad: $12,000
$34,500
PLUS Loans
(Parent and Graduate)
Cost of Attendance Cost of Attendance

Private Loan Limits

While federal loans have some stricter limits, most private loans allow students to take out up to the cost of attendance, minus whatever other aid the student receives (though this can be flexible). Private loans can be used for just about any school-related expense, such as housing, computers, tuition, and even food. If your federal aid did not cover all school expenses, then private loans can be a great way to pick up the slack.

Compare your private loan options today!


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20 Responses to “Student Loan Limits: What You Should Know”

  1. Hannah says on June 21, 2011 at 9:31 pm:

    Awesome!

    Reply To This Comment
  2. Melissa says on June 21, 2011 at 5:46 pm:

    Extremely helpful!

    Reply To This Comment
  3. Amber says on June 21, 2011 at 3:42 pm:

    Super helpful!

    Reply To This Comment
  4. F. R. says on June 21, 2011 at 12:33 pm:

    Very helpful!

    Reply To This Comment
  5. jason says on June 21, 2011 at 8:33 am:

    great information

    Reply To This Comment
  6. Vanessa says on June 20, 2011 at 10:10 pm:

    This would completely help me!!!!!

    Reply To This Comment
  7. Kim says on June 20, 2011 at 9:36 pm:

    Very Helpful blog!

    Reply To This Comment
  8. MissXu says on June 20, 2011 at 9:21 pm:

    Thanks this is very helpful!

    Reply To This Comment
  9. Amanda says on June 20, 2011 at 7:47 pm:

    Good Stuff

    Reply To This Comment
  10. Jordy says on June 20, 2011 at 6:02 pm:

    extremely helpful!

    Reply To This Comment
  11. Dominique says on June 17, 2011 at 11:21 pm:

    This is extremely helpful!

    Reply To This Comment
  12. kiss says on June 17, 2011 at 1:39 pm:

    I will recommend

    Reply To This Comment
  13. nicolr says on June 16, 2011 at 9:19 pm:

    Coool

    Reply To This Comment
  14. DV says on June 16, 2011 at 7:15 pm:

    Such an interesting outline. BTW, i am a current international student, just saying.

    Reply To This Comment
  15. Ryan says on June 16, 2011 at 4:29 pm:

    This blog was very helpful.Ttwo thumbs up =)

    Reply To This Comment
  16. ayisha says on June 16, 2011 at 3:56 pm:

    this information is very helpful. most college students and/or their parents don’t know a alot of this stuff!its good to have that knowledge.

    Reply To This Comment
    • heaven says on June 25, 2011 at 9:32 am:

      you are right i just looked up this imformation and ive been in school for the past 10 months i got to change my stuff

      Reply To This Comment
  17. akeria says on June 16, 2011 at 12:19 pm:

    pray about it !!!!

    Reply To This Comment
    • shakia says on June 21, 2011 at 7:05 pm:

      I Know thats right . the lord know everything.

      Reply To This Comment

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