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How to Apply for Student Loans: Federal and Private

  • Annual Loan Limits: These limits refer to the maximum amount of loan a student can receive in a single academic year. The specific limits can differ depending on whether the student is dependent, independent, or a graduate student.
  • Aggregate Loan Limits: This pertains to the total amount a student can borrow for both their undergraduate and graduate degrees. The aggregate loan limit represents the maximum financial assistance available over the entirety of a student's academic pursuit.
  • Factors Influencing Borrowing Limits: These can include a wide array of elements such as the student's course of study, their year in school, and their specific financial need. It's important to note that each of these factors can influence how much can be borrowed under different loan types.

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