federal unsubsidized loan

Federal Unsubsidized Loans

Unlike a subsidized loan, the student is responsible for the interest from the time the unsubsidized loan is disbursed until it is paid in full.  You can choose to pay the interest or allow it to accumulate and be added to the principal amount of your loan.

 

STAFFORD LOAN LIMITS

The Federal Stafford Subsidized and Unsubsidized Loan programs carry both annual and cumulative (lifetime) limits. Your SAR (Student Aid Report) lists your cumulative loans, but it is important that you also keep records of all your loan transactions. You can also look up your loan history online at:www.nslds.ed.gov.

 

Stafford Maximums beginning 2012-2013

Student Level
& Dependency Status

Maximum Stafford

(subsidized and unsubsidized)

Maximum Subsidized

Dependent freshman

$5,500

$3,500

Dependent sophomore

$6,500

$4,500

Dependent junior or senior

$7,500

$5,500

Independent freshman

$9,500

$3,500

Independent sophomore

$10,500

$4,500

Independent junior or senior

$12,500

$5,500

Graduate/professional

$20,500

0

 

 

  Lifetime limits (beginning 2008-2009)

Student Level
& Dependency Status

Maximum Stafford

(subsidized and unsubsidized)

Maximum Subsidized

Dependent undergraduate

$31,000

$23,000

Independent undergraduate

$57,500

$23,000

Graduate/Professional

$138,500*

$65,500*

         

*The graduate debt limit includes loans received for undergraduate study prior to July 1, 2012.

If you reach your lifetime loan limit, you cannot receive any more of that type of loan. If you exceed your limit, aid already disbursed will be returned to the lender or may have to be repaid by you. We encourage that you borrow only what you need for educational expenses, and to keep track of your cumulative debt. If you need additional loan funding to assist you with continuing your education, alternative lending may be an option.