Federal Direct Loans | George Mason University

Federal Direct Loans | George Mason University

Dependent Students (Except students whose dad and mom can’t borrow a PLUS Loan):

Year in School Base Amount Additional Unsubsidized Amount
Freshman $3,500 $2,000
Sophomore $4,500 $2,000
Junior $5,500 $2,000
Senior $5,500 $2,000

Independent undergraduate students and dependent students whose dad and mom can’t borrow a PLUS Loan:

Year in School Base Amount Additional Unsubsidized Amount
Freshman $3,500 $6,000
Sophomore $4,500 $6,000
Junior $5,500 $7,000
Senior $5,500 $7,000

Dependent undergraduate students (whose dad and mom weren’t denied a PLUS loan) could borrow an mixture quantity of $31,000, of which $23,000 could also be from the backed loan.

Independent undergraduate students (and dependent students whose dad and mom have been denied a PLUS loan) could borrow an mixture quantity of $57,500, of which $23,000 could also be from the backed loan.

Graduate {and professional} students could borrow an mixture quantity of $138,500, of which $65,500 could also be from the Subsidized loan. (Beginning in 2012, Subsidized Loans are not accessible for Graduate students).

Undergraduate students graduating in December could have their Stafford loan quantities prorated for the autumn semester. Eligibility relies upon what number of credit the student is enrolled for the autumn semester. Students enrolled full time obtain half of the annual quantity they’re eligible for, thus the loan quantity for a full time student is similar for fall whether or not or not a student is graduating in December. If you take 15 or extra credit for the autumn semester and are graduating in December, please contact our workplace and we’ll decide your eligibility for probably receiving a better quantity of your Stafford loans within the fall.

READ:   11 Advantages of Federal Loans vs. Private Loans

The annual most loan quantity an undergraduate student could borrow should be prorated when the student is enrolled in a program that’s shorter than a full educational 12 months, and when the student is enrolled in a program that’s one educational 12 months or extra in size, however is in a remaining interval of examine that’s shorter than a full educational 12 months.