Federal Direct Stafford Loans

Dependent or independent students enrolled in an undergraduate, undergraduate or professional program

Subsidized Stafford Loan
Annual Loan Limits For loans first disbursed on or after July 1, 2008:

Undergraduate students:
Year 1: $3,500
Year 2: $4,500
Years 3-5: $5,500

Graduate or professional students:
All graduate and professional students are considered independent.
Aggregate Loan Limits Undergraduate dependent students:
$23,000

Undergraduate independent students:
$23,000

NOTE: A new borrower on or after July 1, 2013 will not be eligible for new subsidized Stafford Loans if the period during which the borrower has received such loans exceeds 150% of the published length of the borrower's educational program. Additionally, a borrower reaching the 150% limit becomes ineligible for interest subsidy benefits on all subsidized Stafford Loans first disbursed to that borrower on or after July 1, 2013.
In-School Interest Paid by federal government
Grace Period Interest paid by federal government during the six-month grace period*

* Interest to be paid by borrower during the six-month grace period on subsidized loans for which the first disbursement is made on or after July 1, 2012 and before July 1, 2014.
Repayment Terms Repayment begins after the grace period. The minimum monthly payment is $50. The maximum repayment term is 10 to 25 years and is based on the total loan balance.
Unsubsidized Stafford Loan
Annual Loan Limits For loans first disbursed on or after July 1, 2008:

Dependent students:
For years 1-5, same limits as subsidized Stafford plus $2,000 (up to the cost of education)

Independent students and dependent students whose parents cannot borrow a PLUS loan:
Same limits as subsidized Stafford plus these additional amounts up to the cost of education:
Years 1-2: $6,000
Years 3-5: $7,000

Graduate or professional students:
$20,500 (up to the cost of education).
Aggregate Loan Limits Undergraduate dependent students:
$31,000 (no more than $23,000 can be subsidized)

Undergraduate independent students:
$57,500 (no more than $23,000 can be subsidized)

Graduate or professional students:
$138,500 (no more than $65,500 can be subsidized)
In-School Interest Paid by the borrower*
Grace Period Interest paid by borrower during the six-month grace period
Repayment Terms Repayment begins after the grace period. The minimum monthly payment is $50. The maximum repayment term is 10 to 25 years and is based on the total loan balance.

* The borrower has the option of making interest payments while he/she (or, in the case of the Parent PLUS loan, the dependent student) is in school or waiting until repayment. Interest not paid will be capitalized (added to the principal) at the point the loan enters repayment.