What is the maximum amount of student loans you can borrow?

The maximum amount you can borrow in federal student loans as an undergraduate is $57,500 total, with as much as $23,000 in subsidized loans. However, if you're a dependent on someone else's taxes, you're eligible for only $31,000 in federal student loans. Graduate and professional students can borrow as much as $138,500 in federal student loans, with $65,500 subsidized if they qualify for financial aid.

How much can you take out in private student loans?

Private student loan limits will vary among lenders. Most lenders limit your annual borrowing to the cost of attendance for your school minus the financial aid you receive (including federal student loans). They'll also place a lifetime limit on how much you can borrow, typically between $75,000 and $120,000 for undergraduate students and more for graduate or professional students.

Student Loans: How Much Can You Borrow?

The cost of a college education is rising to astronomical prices, leaving many students wondering about student loan borrowing limits. The answer depends on several factors, including your academic progress, your tax status as a dependent, and the type of loan you want.

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An infographic defining and explaining the four types of federal student loans. — Image source: The Motley Fool.

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Direct Loans

Direct Loans are federal student loans made directly by the U.S. Department of Education to students or parents.

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Direct Subsidized Loans

A direct subsidized loan is available to undergraduate students with financial need, as determined by the Free Application for Federal Student Aid (FAFSA). The subsidy comes in the form of the Department of Education paying the interest expense while the borrower is enrolled in school. There's also a grace period after graduation.

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Subsidized Student Loans

A subsidized student loan is a type of federal student loan that is designed to help borrowers with demonstrated financial need pay for college.

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The amount you can borrow for a direct subsidized loan is based solely on your financial need. Your financial need is determined by factors that include your family's income and assets and the cost of attending your school. Additionally, there's a cap you cannot exceed on federal student loan borrowing, regardless of financial need.

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Direct Unsubsidized Loans

Direct unsubsidized loans are available to anyone enrolled at least half-time in college. There's no need to demonstrate financial need. However, interest will accrue throughout your time as a student, so you'll graduate with a higher loan balance than the amount you borrowed.

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Unsubsidized Student Loans

Unsubsidized student loans are a form of student loan where the borrower is responsible for paying all interest that accumulates, even when in school or on a deferment.

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Borrowing limits for subsidized and unsubsidized student loans. Data source: studentaid.gov.
Year in School	Dependent	Independent
First-year undergraduate	$5,500 ($3,500 may be subsidized)	$9,500 ($3,500 may be subsidized)
Second-year undergraduate	$6,500 ($4,500 may be subsidized)	$10,500 ($4,500 may be subsidized)
Third year and beyond undergraduate	$7,500 per year ($5,500 may be subsidized)	$12,500 per year ($5,500 may be subsidized)
Graduate or professional student	Not applicable	$20,500 ($0 may be subsidized)

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There are also aggregate borrowing limits for student loans.

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Aggregate borrowing limits for student loans. Data source: studentaid.gov.
Status	School Program	Subsidized Loans	Total Limit
Dependent	Undergraduate	$23,000	$31,000
Independent	Undergraduate	$23,000	$57,500
Independent	Graduate/professional	$65,500	$138,500

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However, with the rising cost of tuition at some private universities, you may also need to get a private student loan. The limits may be higher, but the interest rates are usually less favorable for private student loans, and repayment terms aren't very attractive.

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Student loan borrowing limits FAQs

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About the Author

Adam Levy is a contributing Motley Fool stock market analyst covering technology, consumer, and financial stocks and how policy, economic, and consumer trends shape personal finance, Social Security and retirement savings. Before The Motley Fool, Adam was a financial advisor at Edward Jones. He studied finance and electrical engineering at Carnegie Mellon University.

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