dependent	student	annual	loan	limits,	the	total	loan	amounts	received	would	have	been	$13,500	in	Direct
Subsidized	Loan	funds	and	$6,000	in	Direct	Unsubsidized	Loan	funds	($19,500	combined	subsidized	and
unsubsidized	total).
Because	the	combined	subsidized	and	unsubsidized	loan	amount	of	$32,500	that	the	student	received	for	years
one	through	three	exceeds	the	$31,000	dependent	undergraduate	aggregate	loan	limit,	it	might	appear	that	the
student	would	have	no	remaining	loan	eligibility	for	the	fourth	year	of	the	program.	However,	only	the	$19,500	in
combined	subsidized	and	unsubsidized	loan	funds	that	the	student	could	have	received	under	the	dependent
student	annual	loan	limits	are	counted	against	the	$31,000	aggregate,	leaving	the	student	with	$11,500	in
remaining	loan	eligibility	under	the	dependent	undergraduate	aggregate	loan	limit,	not	more	than	$9,500	of
which	may	be	subsidized.	Therefore,	in	the	fourth	year	of	the	program	(when	the	student9s	parent	is	eligible	to
receive	a	Direct	PLUS	Loan),	the	student	could	receive	up	to	the	full	combined	subsidized	and	unsubsidized
annual	loan	limit	for	a	dependent	fourth-year	undergraduate	(that	is,	$7,500,	not	more	than	$5,500	of	which	may
be	subsidized).
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