The maximum aggregate federal student loan amount available for graduate or professional students is $138,500. This limit applies to all federal loans received, including those for undergraduate study.
The Free Application for Federal Student Aid (FAFSA) is the gateway to accessing federal student aid, including these loans. While the FAFSA itself doesn't have a "maximum," it determines eligibility for the various types and amounts of aid, such as Direct Unsubsidized Loans and, for eligible students, Direct Subsidized Loans (though graduate students are typically only eligible for unsubsidized loans, the aggregate limit considers all federal loans, including any subsidized loans from undergraduate study).
Understanding Graduate Student Loan Limits
For graduate and professional students, the federal government sets specific limits on the total amount of Direct Loans they can borrow throughout their academic careers. This is known as the aggregate loan limit.
Key Aspects of Graduate Loan Limits:
- Aggregate Limit: The overall maximum federal student loan debt a graduate or professional student can accumulate is $138,500. This is a cumulative limit that encompasses all federal loans (subsidized and unsubsidized) received for both undergraduate and graduate studies.
- Subsidized Loan Cap: Within this $138,500 aggregate limit, no more than $65,500 may be in Subsidized Loans. However, it's important to note that Direct Subsidized Loans are generally not available to graduate or professional students. This specific cap primarily applies to subsidized loans borrowed during undergraduate studies that contribute to the overall aggregate limit. Graduate students primarily borrow Direct Unsubsidized Loans.
- Annual Limits: Beyond the aggregate, there are also annual borrowing limits for Direct Unsubsidized Loans for graduate students, which can vary. For example, the annual limit for most graduate and professional students is $20,500.
Breakdown of Federal Loan Limits for Graduate Students
Here's a summary of the key federal student loan limits for graduate students:
| Loan Type | Maximum Amount | Notes |
|---|---|---|
| Aggregate Federal Loans | $138,500 | This total includes all federal student loans borrowed for both undergraduate and graduate study. |
| Portion that can be Subsidized Loans | $65,500 | This is the maximum amount of subsidized loans (typically from undergraduate) that can be included in the aggregate limit. Graduate students are not eligible for new subsidized loans. |
It's crucial for students to track their borrowing history to ensure they do not exceed these limits. Exceeding the aggregate limit can make a student ineligible for further federal student aid.
How to Access Federal Student Loans
To access federal student loans and other forms of federal financial aid, graduate students must:
- Complete the FAFSA: Submit the Free Application for Federal Student Aid (FAFSA) each year. This application collects financial information to determine eligibility for various federal aid programs.
- Enroll in an Eligible Program: Be enrolled at least half-time in an eligible degree or certificate program at an accredited institution.
- Meet Eligibility Requirements: Fulfill general eligibility criteria, such as maintaining satisfactory academic progress and being a U.S. citizen or eligible non-citizen.
For more detailed information on federal student loan types and limits, you can visit the official Federal Student Aid website at StudentAid.gov.
