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Student Loan Maximums: How Much Can You Borrow For College?

You can borrow up to $57,500 in federal direct student loans during your undergraduate career. Private loans are generally capped at your school's total cost of attendance.

Student loans aren’t limitless. The maximum amount you can borrow depends on factors including whether the loans are federal or private and your year in school.

For federal direct student loans, undergraduates can borrow up to $12,500 annually and up to $57,500 total. Graduate students can borrow up to $20,500 annually and $138,500 total, including their undergraduate borrowing. Federal PLUS loans are capped at your school's total cost of attendance.

Private student loan maximums depend on the lender. Generally, your borrowing is capped at your school's total cost of attendance, less other financial aid you may have received.

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How to pay for college

Federal student loan maximums

The maximum you can borrow depends on your year in school, your status as a dependent or independent student, and the type of loan. There are three main

types of federal student loans

:

  • Direct subsidized loans.

    Must be an undergraduate student who demonstrates financial need to qualify. Interest does not accrue while the student is in school and during deferment periods.

  • Direct unsubsidized loans.

    Available to all U.S. citizen undergraduate, graduate and professional students, regardless of financial need. Interest accrues while the student is in school and during deferment periods.

  • Parent or graduate PLUS loans.

    Available to parents borrowing on behalf of their undergraduate kids, and to graduate and professional students. PLUS loans have the highest interest rates of all federal student loan types and the fewest repayment options. Interest accrues while a student is in school or during deferment periods.

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Subsidized vs. unsubsidized student loans

Here are undergraduate borrowing limits for federal direct student loans:

There are both annual and aggregate loan limits for these loans. The aggregate limit is the total amount of federal student loan debt you can take throughout your undergraduate and graduate-level studies. If you reach your total limit, you can take out additional federal student loans if you first pay down your outstanding debt.

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Your guide to financial aid

To apply for federal student loans, you must submit the Free Application for Federal Student Aid (FAFSA) for each year you are in school. NerdWallet's

FAFSA

guide walks you through the process.

Graduate federal student loan limits

Graduate and professional students can borrow federal direct unsubsidized loans.

These students are limited to $20,500 in unsubsidized loans each year. Across their full undergraduate and graduate career, they can borrow no more than $138,500 total in direct loans.

Direct PLUS loan limits

PLUS loans are available to graduate and professional students and to parents of dependent undergraduate students.

The maximum amount of PLUS loans you can take out is the school's

cost of attendance

minus other financial aid you receive or your child receives. Cost of attendance includes tuition and fees, room and board, books and other supplies.

Max out federal subsidized and unsubsidized direct loan borrowing before tapping PLUS loans; PLUS loans have higher

student loan interest rates

.

If you’re a dependent student and your parents aren’t eligible for a direct PLUS loans — for example, if they have an

adverse credit history

— you may be eligible for additional unsubsidized loans.

» What you’ll pay after graduation:

Calculate monthly student loan payments

Private student loan limits

Private student loan limits vary by lender. Many lenders cap the amount you can borrow at your school’s total cost of attendance, less other financial aid you may have received. Other lenders set aggregate limits for undergraduate and graduate loans.

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Best private student loans

Max out federal student loan borrowing before turning to private student loans. Federal loans have protections that private loans don't, including income-driven repayment plans and loan forgiveness programs.

How much should you borrow for college

Just because you can borrow up to your school's total cost of attendance doesn’t mean you should. To keep higher education affordable, calculate

how much you should borrow for college

based on your expected future earnings, and aim to keep your student borrowing below that amount.

If you take out additional student loans each year you are in school, your total debt will increase. To manage this debt, maintain a budget and keep track of how much you’re borrowing. You can check your federal student loan balance at studentaid.gov.