How Much Can I Borrow from Stafford Loans?

Stafford loans are available to almost everyone who wants to earn a college degree. This loans are backed by the US Department of Education. They do not depend on your credit and are easier to get if your credit report is not ready to handle loans for tuition. The amount you are allowed to borrow is dependent upon your year and student status.

• Students are classified as independent or dependent. Dependent students still have guardians who are responsible for their cost of living. Independent students accountable for their cost of living.


• The year of a student is made according to the college credits they have earned. Students with 0 to 27 credits are considered Freshmen. Sophomores have 28 to 59 credits. Juniors have 60 to 89 credits and when you have 90 credits or above you are considered a Senior.


• There are two types of Stafford loans, subsidized and unsubsidized. Subsized loans do not accrue interest while you are in school. Unsubsidized loans accrue interest while you are in school and you will pay the interest portion of this loan back while you are in school.


• Freshman dependent students are allowed to borrow up to $5,500 per school year in subsidized and unsubsidized loans. While independent freshman can borrow up to $9,500 of sub and unsubsidized Stafford loans.


• Dependent sophomore students can borrow up to $6,500 and $10,500 in Stafford unsubsidized and subsidized loans for independent students.


• Junior and Senior students are allowed the same sub and unsubsidized loan cap, $7,500 of a dependent Junior or Senior and $12,500 for an independent Junior or Senior.