May 23, 2008

Do You Know the Answer?

Q. Are loan limits changing for both dependent and independent undergraduate students?

A. Yes. The Ensuring Continued Access to Student Loans Act of 2008 (H.R. 5715) included provisions that increase the borrowing limits for additional unsubsidized Stafford loans for all students by $2,000 and raise the aggregate borrowing limits to accommodate the increases. These increases are effective for loans first disbursed on or after July 1, 2008. Limits for subsidized Stafford loans have not changed.

Use OGSLP's Undergraduate Unsubsidized Loan Limit Chart to help determine loan amounts for your undergraduate students.