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Federal Student Loan Annual Limits The Financial Aid Office reviews and determine the types of aid a student is eligible to receive each academic year. However, there are limits on the amount in Direct Subsidized Loans and Direct Unsubsidized Loans a student may be eligible to receive each year (annual loan limits) and the total amounts that he/she may borrow (aggregate loan limits). The actual loan amount a student is eligible to receive each academic year may be less than the annual loan limit. These limits vary depending on the grade level a student is in school and whether a student's status is dependent or independent. Notes: A dependent student whose parents are ineligible for a Direct Parent PLUS loan, may receive additional unsubsidized loan funds. The following chart shows the annual and aggregate limits for subsidized and unsubsidized loans. Dependent Students (except students independent Students (and dependent Year whose parents are unable to obtain undergraduate students whose parents PLUS Loans) are unable to obtain PLUS Loans) First -Year Undergraduate $5,500—No more than $3,500 of this $9,500—No more than $3,500 of this Annual Loan Limit amount maybe in subsidized loans. amount may be in subsidized loans. Second -Year Undergraduate $6,500—No more than $4,500 of this $10,500—No more than $4,500 of this Annual Loan Limit amount may be in subsidized loans. amount may be in subsidized loans. Third -Year and $7,500—No more than $5,500 of this $12,500—No more than $5,500 of this Beyond Undergraduate amount may be in subsidized loans. amount may be in subsidized loans. Annual Loan Limit Graduate or Professional Not Applicable (all graduate and $20,500 (unsubsidized only) Students Annual Loan Limit professional students are considered independent) Subsidized and $31,000—No more than $23,000 of this $57,500 for undergraduates —No more Unsubsidized Aggregate amount may be in subsidized loans. than $23,000 of this amount may be in Loan Limit subsidized loans. $138,500 for graduate or professional students —No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study. Direct PLUS Loan Federal Direct Parent PLUS loans are available to parents of dependent students or graduate/professional 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 adverse credit history must meet additional requirements to qualify. More information can be found on the FSA website: https: //studentaid gov/understand- aid/types/loans/plus. 24 2020-2021 Catalog Pacific College