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How Much Can You Borrow?
The following chart illustrates government loan borrowing limits for students and their parents.
| Government Loan Borrowing Limits for Students and Parents | ||||
| Program | Level of Study | Year of Study | Annual Limits | Aggregate Limits |
| Federal Stafford Loan (Unsubsidized and Subsidized) | Undergraduate | First year | $3,500 | $23,000 for all undergraduate study |
| Second year | $4,500 | |||
| Third year and later | $5,500 | |||
| Graduate/ Professional | All years | $8,500 | $65,500 for all graduate and undergraduate study | |
| Additional Unsubsidized Federal Stafford Loans for Independent Undergraduate and Graduate Students (Dependent undergraduates may be eligible - contact your college financial aid office) | Undergraduate | First two years | $4,000 | $23,000 for all undergraduate study |
| Third year and Later | $5,000 | |||
| Graduate/ Professional | All years | $12,000 | $73,000 for all graduate and undergraduate study | |
| Federal Parent PLUS Loan | Undergraduate |  | Cost of attendance minus other financial aid per dependent student | No limit |
| Federal Graduate PLUS Loan | Graduate | | Cost of attendance minus other financial aid per dependent student | No limit |
| Federal Perkins Loan | Undergraduate | Each year | $4,000 | $20,000 for all undergraduate study |
| Graduate/ Professional | Each year | $6,000 | $40,000 for all graduate and undergraduate study | |