The maximum amount of student loan you can get varies significantly based on the type of loan, your student status (undergraduate or graduate/professional), and the cost of attendance at your institution. There isn't a single universal dollar limit for all student loans.
Generally, the highest amounts are available through federal Direct PLUS Loans and private student loans, which often allow borrowing up to your school's cost of attendance. However, specific federal loans like Direct Subsidized and Unsubsidized Loans have fixed aggregate limits.
Federal Direct Subsidized and Unsubsidized Loan Limits
Federal Direct Subsidized and Unsubsidized Loans are common federal student loans with specific annual and aggregate borrowing limits. These limits are fixed amounts that apply to the total money you can borrow throughout your academic career for these particular loan types.
The aggregate (total) loan limits for these federal loans are as follows:
| Student Status | Maximum Aggregate Loan Amount | Maximum Subsidized Portion |
|---|---|---|
| Undergraduate | $57,500 | $23,000 |
| Graduate or Professional | $138,500 | $65,500 |
It's important to note that the graduate or professional student aggregate limit of $138,500 includes all federal loans received for undergraduate study.
Beyond Subsidized and Unsubsidized Loans: Other Federal Options
While Direct Subsidized and Unsubsidized Loans have fixed limits, other federal student loan programs can allow for higher borrowing amounts.
Direct PLUS Loans (Grad PLUS and Parent PLUS)
Direct PLUS Loans are a type of federal student loan that can offer higher borrowing limits.
- Grad PLUS Loans: These are available to graduate and professional students.
- Parent PLUS Loans: These are available to parents of dependent undergraduate students.
For both Grad PLUS and Parent PLUS loans, you can borrow up to the cost of attendance at your specific school, minus any other financial aid you receive. The cost of attendance is determined by your school and includes tuition, fees, room, board, books, supplies, and other expenses. Because the cost of attendance varies significantly by institution, these loans do not have a fixed dollar maximum like subsidized and unsubsidized loans, potentially allowing for much higher borrowing amounts. Approval for PLUS loans usually requires a credit check.
You can learn more about federal student loans, including Direct PLUS Loans, at StudentAid.gov.
Private Student Loan Limits
Private student loans are offered by banks, credit unions, and other private lenders. These loans typically do not have fixed aggregate limits set by the government. Instead, the maximum amount you can borrow depends on:
- The lender's policies.
- Your creditworthiness and that of any co-signer.
- Your school's certified cost of attendance.
Many private lenders will allow you to borrow up to the certified cost of attendance, similar to Direct PLUS Loans. In some cases, private loans may even exceed the cost of attendance or have very high maximums, though these are typically tied to educational expenses. Interest rates and repayment terms for private loans vary widely and are often less favorable than federal loans.
Information on private loans can also be found at StudentAid.gov.
Factors Influencing Loan Amounts
Several key factors determine the specific amount of student loan you can get:
- Student Status: Undergraduate, graduate, or professional.
- Dependency Status: Whether you are considered a dependent or independent student for federal financial aid purposes.
- Cost of Attendance (COA): The total cost of attending a specific school for an academic year.
- Other Financial Aid: Grants, scholarships, and other aid reduce the amount you can borrow.
- Credit History: Required for federal Direct PLUS Loans and most private student loans.
In summary, while there are specific fixed limits for federal Direct Subsidized and Unsubsidized Loans, the absolute most you can get in student loans generally extends to the cost of attendance through federal Direct PLUS Loans and private student loans, contingent on credit approval and lender policies.
