  
 
|
|
Undergraduate Student
Federal Stafford Loan Maximums
Effective as of July 1, 2008
|
for Dependent
Undergraduates
|
Subsidized and/or Unsubsidized
|
Additional
Unsubsidized
|
Total
Annual
Limit
|
|
(need based or non-need
based)
|
(not based
on need)
|
| Freshman (00-29 credit hours
completed) |
$3,500 |
$2,000 |
$ 5,500 |
| Sophomore (30-59 credit hours completed) |
4,500 |
2,000 |
6,500 |
| Junior
(60-89 credit hours completed) |
5,500 |
2,000 |
7,500 |
| Senior
(90 + credit hours completed) |
5,500 |
2,000 |
7,500 |
|
Lifetime (Aggregate) Limit
|
$23,000 |
$8,000 |
$31,000 |
|
for Independent
Undergraduates
|
Subsidized and/or Unsubsidized
|
Additional
Unsubsidized
|
Total
Annual
Limit
|
|
(need based or non-need
based)
|
(not based
on need)
|
| Freshman (00-29 credit hours
completed) |
$3,500 |
$6,000 |
$ 9,500 |
| Sophomore (30-59 credit hours completed) |
4,500 |
6,000 |
10,500 |
| Junior
(60-89 credit hours completed) |
5,500 |
7,000 |
12,500 |
| Senior
(90 + credit hours completed) |
5,500 |
7,000 |
12,500 |
|
Lifetime (Aggregate) Limit
|
$23,000 |
$34,500 |
$57,500 |
Stafford
Grade Level Definitions:
| Freshman |
Students with 00-29 credit hours completed
before the beginning of the term. |
| Sophomore |
Students with 30-59 credit hours completed
before the beginning of the term. |
| Junior & Senior |
Students with 60 or more credit hours completed
before the beginning of the term. |
| Dependent |
Student had to
include parental income & signature in order
to file the FAFSA. |
|
|
|
