Federal Financial Aid Programs
There are three types of Federal Financial Aid:
1. are financial aid that doesn't have to be repaid (unless, for example, you withdraw from school and owe a refund).
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2. is a work program through which you earn money to help you pay for school*
3. are borrowed money for college or career school; you must repay your loans, with interest.
- are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
- are loans made to eligible undergraduate, graduate and professional students, but eligibility is not based on financial need.
- are loans made to parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an must meet additional requirements to qualify.
| FEDERAL LOAN LIMITS | ||||
| CATEGORY | GRADE LEVEL | ANNAUL LIMIT | SUBSIDIZED CAP | AGGREGATE LIMIT |
| Undergraduate Independent Student | Grade Level 2 | $10,500 | $4,500 | $57,500 total (Max $23,000 subsidized |
| Undergraduate Independent Student | Grade Level 3 & 4 | $12,500 | $5,500 | |
| Undergraduate Dependent Student | Grade Level 2 | $6,500 | $4,500 | $31,000 total (Max $23,000 subsidized) |
| Undergraduate Dependent Student | Grade Level 3 & 4 | $7,500 | $5,500 | |
| Beginning with the the 2026-27 award year, federal student loans must be prorated if you are not a full-time student for the academic year. | ||||
| Parent of Undergraduate Dependent Student (Parent PLUS Loan) | Grade Level 1-4 | $20,000 Per dependent student | N/A | $65,000 Per dependent student (without regard to amounts forgiven, repaid, canceled, or discharged) |
| Graduate Student (DE-MSN) | Master's | $20,500 | N/A | $100,000 |
