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What Is the Maximum Amount of Student Loans?

What Is the Maximum Amount of Student Loans?

There are limits to how much money you can borrow with student loans. The maximum student loan per year depends on how far along you are in school and whether your loans are federal or private.

Undergraduates are limited to $12,500 annually and $57,500 in total federal student loans. Graduate students are limited to $20,500 annually and can have a total student loan debt of $138,500. ( 1)

The lifetime student loan limit isn’t an indication of how much you should borrow. That amount of debt could financially cripple many people for years, depending on their future income. With careful planning, it’s possible for many students to get the education they need without borrowing nearly as much as the lifetime student loan limit.

How Much Can You Get in Student Loans?

Your loan limit depends on your status as a full-time or part-time college student, whether you are a dependent or not, and how far along you are in school.

Federal Student Loan Limit

Undergraduates can borrow a maximum of $5,500 to $12,500 in Direct Subsidized and Direct Unsubsidized Loans each year. Parents can borrow through a Direct PLUS Loan to help pay for their dependent undergraduate student’s education as well. Continue reading “What Is the Maximum Amount of Student Loans?”