How much can a first year college student borrow using a unsubsidized Stafford Loan?
November 11, 2010 by admin
Filed under Student loans
I’m a first year college student applying online for an unsubsidized Stafford Loan. I’m confused as to the amount I’m allowed to borrow. I’m classified as a dependent. Any help would be much appreciated.
my limit was $4,000 before they took out the fee
I’m not sure what the limit is, but when I applied and gave all my information they tell you how much you will get. I think it is based on how much you make. I do think the most I have gotten is 4,000.
The maximum a dependent freshman can borrow is $5,500. 00 per academic year. This loan limit is for Stafford loans that are disbursed on or after July 1, 2008,