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How Much Can You Get in Student Loans?

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Learn more about how much college could cost — and, how to afford it:

• The total price tag: Cost of attendance
• What’s in your budget: Find an affordable college choice
• Funding options: Federal vs. private student loans
• What you’ll pay after graduation: Calculate monthly student loan payments

Student loans aren’t limitless. The maximum amount you can borrow depends on factors including whether they’re federal or private loans and your year in school.

Undergraduates can borrow up to $12,500 annually and $57,500 total in federal student loans. Graduate students can borrow up to $20,500 annually and $138,500 total.

» MORE: Your guide to financial aid

But just because you can borrow that much doesn’t mean you should. To keep higher education affordable, calculate how much you should borrow for college based on your expected future earnings and aim to keep your student borrowing below that amount.

Federal student loan limits

The maximum you can borrow depends on your year in school, your status as a dependent or independent student, and the type of loan. There are three main types of federal student loans: Direct subsidized, direct unsubsidized and direct PLUS.

To apply for federal student loans, submit the Free Application for Federal Student Aid — this FAFSA guide walks you through the process.Check the listSee 2022’s best student loans for parents, students and more. Thoroughly researched by our Nerds.SEE THE WINNERS

Direct subsidized and unsubsidized loan limits

Subsidized loans are for undergraduates only, while unsubsidized loans are available to both undergraduates and graduate students.

There are both annual and aggregate loan limits for these loans. The aggregate limit is the total amount of federal student loan debt you can take on throughout your undergraduate and graduate-level studies. If you reach your total limit, you can take out additional federal student loans if you first pay down your outstanding debt.

Dependent undergraduate students
First year	$5,500 overall; $3,500 subsidized
Second year	$6,500 overall; $4,500 subsidized
Third year and up	$7,500 overall; $5,500 subsidized
Total limit	$31,000 overall; $23,000 subsidized
Independent undergraduate students
First year	$9,500 overall; $3,500 subsidized
Second year	$10,500 overall; $4,500 subsidized
Third year and up	$12,500 overall; $5,500 subsidized
Total limit	$57,500 overall; $23,000 subsidized
Graduate and professional students (unsubsidized only)
Annual limit	$20,500
Total limit	$138,500, including undergraduate loans

If you’re a dependent student and your parents aren’t eligible for a direct PLUS loans — for example, if they have an adverse credit history — you may be eligible for additional unsubsidized loans.

Direct PLUS loan limits

PLUS loans are available to graduate and professional students, and to parents of dependent undergraduate students.

There are no specific caps on PLUS loan borrowing. The maximum amount of PLUS loans you can take out is the school’s cost of attendance minus other financial aid you receive or your child receives. Cost of attendance includes tuition and fees, room and board, and books and other supplies.

Max out federal subsidized and unsubsidized direct loan borrowing before tapping PLUS loans; PLUS loans have higher student loan interest rates.

Private student loan limits

Private student loan limits vary by lender. Generally, the amount you borrow can’t exceed your school’s total cost of attendance.

Max out federal student loan borrowing before taking out private student loans. Federal loans have protections that private loans don’t, including income-driven repayment plans and loan forgiveness programs.

Lender	Private student loan minimums and limits
Ascent	Non-co-signed future income-based option:Minimum loan amount: $2,001Maximum loan amount: $200,000 (lifetime maximum). Annually, the cost of attendance.Co-signed and non-co-signed credit-based options:Minimum loan amount: $2,001Maximum loan amount: $20,000
Citizens Bank	Minimum loan amount: $1,000Maximum loan amount: $100,000 (lifetime maximum). Annually, the cost of attendance minus financial aid.
College Ave	Minimum loan amount: $1,000Maximum loan amount: School-certified cost of attendance minus financial aid.
Discover	Minimum loan amount: $1,000Maximum loan amount: School-certified cost of attendance minus financial aid.
Earnest	Minimum loan amount: $1,000Maximum loan amount: School-certified cost of attendance.
LendKey	Minimum loan amount: $1,000Maximum loan amount: School-certified cost of attendance minus financial aid.
MEFA	Minimum loan amount: $1,500Maximum loan amount: School-certified cost of attendance minus financial aid.
MPOWER	Minimum loan amount: $2,001Maximum loan amount: $25,000 per semester and $50,000 annually
Navy Federal	Minimum: $2,000 Maximum: $120,000 for undergraduates and $160,000 for graduate students.
PNC	Minimum: $1,000Maximum: $50,000
RISLA	Minimum: $1,500Maximum: $45,000
Prodigy Finance	Minimum: $15,000 ($35,000 in certain U.S. states)Maximum: $220,000.
Sallie Mae	Minimum loan amount: $1,000Maximum loan amount: School-certified cost of attendance
SoFi	Minimum loan amount: $5,000Maximum loan amount: School-certified cost of attendance
Custom Choice	Minimum: $1,000Maximum: The school-certified cost of attendance minus other aid, not to exceed $99,000