What is a grade-level loan limit?
A student’s grade level refers to his/her academic classification: freshman, sophomore, junior, senior, or graduate student. Freshman students are eligible for up to $3,500 in loan money per year, sophomore students are eligible for up to $4,500 per year, junior and senior students are eligible for up to $5,500 per year, and graduate students are eligible for up to $8,500 per year, respectively. Independent students may be eligible to borrow more.
A student’s grade level refers to his/her academic classification: freshman, sophomore, junior, senior, or graduate student. Freshman students are eligible for up to $5,500 in loan money per year, sophomore students are eligible for up to $6,500 per year, junior and senior students are eligible for up to $7,500 per year, and graduate students are eligible for up to $20,500 per year, respectively. Independent students may be eligible to borrow more.
