Welcome to College Confidential!

The leading college-bound community on the web

Sign Up For Free

Join for FREE, and start talking with other members, weighing in on community discussions, and more.

Also, by registering and logging in you'll see fewer ads and pesky welcome messages (like this one!)

As a CC member, you can:

  • Reply to threads, and start your own.
  • Post reviews of your campus visits.
  • Find hundreds of pages of informative articles.
  • Search from over 3 million scholarships.
We've just launched our new college search tool at http://www.collegeconfidential.com/schools. Use this form to provide feedback as we continue to work toward a more robust solution to best meet your needs.

Aggregate Loans Limit with Parent Plus Denial?

mkj120mkj120 Registered User Posts: 27 New Member
Hello,
I'm in my third year of college and wondering how much I'll be able to borrow in subsidized and unsubsidized Stafford Direct loans for the remainder of my undergrad program. My parents were denied Parent Plus Loans every single FAFSA I've applied for. Does this change the limit in loans that I can borrow?

10/6/2016 - Direct Stafford Unsubsidized - $6000
10/6/2016

Replies to: Aggregate Loans Limit with Parent Plus Denial?

  • mkj120mkj120 Registered User Posts: 27 New Member
    Sorry, typing this out on phone and I hit submit too early. What I've taken out so far:

    10/6/2016 - Direct Stafford Unsubsidized - $6000
    10/6/2016 - Dorect Stafford Subsidized - $4500
    10/8/2015 - Direct Stafford Unsubsidized - $6000
    10/8/2015 - Direct Stafford Subsidized - $3500
    2/20/15 - Direct Stafford Unsubsidized - $2000
    2/20/2015 - Direct Stafford Subsidized - $3500

    Total Stafford Direct Unsubsidized: $14000
    Total Stafford Direct Subsidized: $11500

    Any help would be super appreciated!
  • mommdcmommdc Registered User Posts: 8,201 Senior Member
    https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized#how-much

    looks like the loan limit for undergrad is:
    $57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans.

    Your first term was spring 2015, and it looks like you just borrowed $5,500 for that.
    Then for fall 2015 you borrowed $9,500.
    And in fall 2016 you borrowed $10,500.

    So so far you borrowed a total of $25,500
  • mkj120mkj120 Registered User Posts: 27 New Member
    @mommdc Thank you! So the borrow limit is $31,000 for dependent students and $57,000 for independent students. So to clear things up, even though I am a dependent student, because my parents applied for Parent Plus loans and were denied, I can borrow as much as an independent student can, which is $57,000?
  • mommdcmommdc Registered User Posts: 8,201 Senior Member
    That's the way I understood it from the link. Since you can borrow as much as an independent student.

    But the less you need to borrow, the better. Some of it will accrue interest and it all needs to be paid back.

    @kelsmom can you confirm the loan limit that applies to OP's situation
Sign In or Register to comment.