Most You Can Get from a FAFSA Loan for College?

Hey guys! Just started looking into financial aid and stuff, and I'm kinda overwhelmed. Does anyone know the maximum amount one can receive from a FAFSA loan for college? Grateful for any help.

Hi there!

I understand the financial aid process can be quite overwhelming, so I'm here to help!

The maximum amount you can receive from a federal student loan via FAFSA depends on whether you're an undergraduate, graduate, or professional student, and even on what year you are within your program.

For dependent undergraduate students, the combined Subsidized and Unsubsidized Federal Direct Loan limits are:

- First-year: $5,500

- Second-year: $6,500

- Third-year and beyond: $7,500

For independent undergraduate students, or dependent students whose parents have been denied a PLUS loan, the limits are:

- First-year: $9,500

- Second-year: $10,500

- Third-year and beyond: $12,500

For graduate or professional students, the maximum amount is $20,500 per year.

The limits for parent PLUS loans are determined by subtracting any financial aid the student has been awarded from the cost of attendance. The resultant amount is the maximum the parents can borrow.

Also, remember that federal direct loan programs have overall limits as well:

- Dependent undergraduates: $31,000 ($23,000 of this may be subsidized loans)

- Independent undergraduates and dependent students whose parents have been denied a PLUS loan: $57,500 ($23,000 of this may be subsidized loans)

- Graduate and professional students: $138,500

I hope this information helps you make sense of the financial aid process! Don't hesitate to ask if you have more questions.