Volume	8,	Chapter	4,	Table	4:	Aggregate	Limits	for	Direct	Subsidized	Loans	and	Direct	Unsubsidized	Loans
Total	(Subsidized	and
Unsubsidized)
Maximum
Subsidized
Dependent	undergraduates	(excluding	those	whose	parents	can9t	get
Direct	PLUS	Loans)
$31,000 $23,000
Independent	undergraduates	(and	dependent	undergraduates	whose
parents	can9t	get	Direct	PLUS	Loans)
$57,500 $23,000
Graduate	and	professional	students $138,500 $65,500
Notes	on	the	aggregate	loan	limits	shown	in	Table	4:
The	<Total	(Subsidized	and	Unsubsidized)=	column	shows	the	maximum	combined	outstanding	subsidized	and
unsubsidized	loan	debt	for	a	student.	The	<Maximum	Subsidized=	column	shows	the	maximum	portion	of	the
combined	subsidized	and	unsubsidized	limit	that	may	be	subsidized.	For	example,	a	dependent	undergraduate	may
have	up	to	a	maximum	of	$31,000	in	combined	subsidized	and	unsubsidized	outstanding	loan	debt,	but	no	more
than	$23,000	of	this	amount	may	consist	of	subsidized	loans.
Capitalized	interest	(unpaid	accrued	interest	that	has	been	added	to	the	principal	balance	of	a	loan)	is	not	counted
toward	a	borrower9s	aggregate	loan	limits	(see	"Checking	Remaining	Loan	Eligibility	Under	Aggregate	Loan	Limits=
below	for	more	information).
The	$138,500	combined	subsidized	and	unsubsidized	aggregate	loan	limit	for	graduate	and	professional	students
includes	loans	received	for	undergraduate	study.
The	$65,500	subsidized	aggregate	loan	limit	for	graduate	and	professional	students	includes	subsidized	loans
received	for	prior	undergraduate	study.	It	also	includes	any	subsidized	loans	received	for	prior	graduate	or
professional	study	before	July	1,	2012,	when	graduate	and	professional	students	were	eligible	to	receive	subsidized
loans	(subsidized	loan	eligibility	for	graduate	and	professional	students	was	eliminated	effective	for	loan	periods
beginning	on	or	after	July	1,	2012).
The	loan	amounts	counted	toward	a	borrower9s	aggregate	loan	limits	include	any	outstanding	Direct	Subsidized	Loan
and	Direct	Unsubsidized	Loan	amounts,	and	also	any	outstanding	Subsidized	and	Unsubsidized	Federal	Stafford
Loans	previously	borrowed	under	the	FFEL	Program	(no	new	loans	have	been	made	under	the	FFEL	Program	since
June	30,	2010).
If	a	borrower	has	a	Direct	Consolidation	Loan	or	a	Federal	Consolidation	Loan	(a	consolidation	loan	made	under	the
FFEL	Program),	the	outstanding	amount	of	the	consolidation	loan	representing	any	Direct	Subsidized	Loans,	Direct
Unsubsidized	Loans,	Subsidized	Federal	Stafford	Loans,	or	Unsubsidized	Federal	Stafford	Loans	that	were	paid	off	by
the	consolidation	loan	is	counted	toward	the	borrower9s	aggregate	subsidized	and	unsubsidized	loan	limits
accordingly.
Aggregate	Loan	Limit	for	an	Undergraduate	Student	With	a	Graduate	Degree
Aggregate	Loan	Limits
34	CFR	685.203(d),	(e)
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