What impact, if any, does a previous consolidation of federal education loans have on a student’s aggregate limit for federal education loans?
Stafford loan funds that a student consolidates are included in that student’s aggregate Stafford amount. The aggregate Stafford loan limit for dependent undergraduate students is $31,000; for independent undergraduate students, the limit is $57,500. Of those amounts, no more than $23,000 may be in subsidized Stafford loans. So, as examples, if a dependent undergraduate student has consolidated $20,000 in loan funds, that student would have remaining aggregate Stafford loan eligibility of $11,000. If an independent student has consolidated $20,000 in loan funds, that student would have remaining aggregate Stafford loan eligibility of $37,500.
Related Questions
- What is the aggregate loan limit for a dependent undergraduate student whose parent has been denied a Federal PLUS Loan but who is eligible for an additional unsubsidized Federal Stafford Loan?
- How is the U.S. Department of Education helping "split" borrowers (student borrowers who have loans with more than one federal servicer)?
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