As a consequence of the Deficit Reduction Act of 2005 some annual loan limits will change on July 1, 2007. The new Maximum Loan Amounts for Fall, Spring and Summer after July 1, 2007:
| Grade Level as Determined by the Registrar |
Credits(1) |
Dependent loan maximum borrowed allowed |
Dependent Status 1 Semester Loan proceeds |
Independent Loan maximum borrowed amount |
Independent Status 1 Semester Loan proceeds |
| Preparatory coursework for enrollment in an undergraduate program |
0-29 |
$2,625 |
$1,273.13 |
$6,625 |
$3,213.00 |
| First Year - Freshman |
0-29 |
$3,500 |
$1,697.50 |
$7,500 |
$3,637.50 |
| Second Year - Sophomore |
30-59 |
$4,500 |
$2,182.50 |
$8,500 |
$4,122.50 |
| Third Year - Junior |
60-89 |
$5,500 |
$2,667.50 |
$10,500 |
$5,092.50 |
| Fourth Year or more - Senior |
90-180 |
$5,500 |
$2,667.50 |
$10,500 |
$5,092.50 |
| Preparatory coursework for enrollment in a graduate or professional program |
N/A |
$5,500 |
$2,667.50 |
$12,500 |
$4,187.5 |
| Each Year of Graduate or Professional Study |
N/A |
$8,500 |
$4,122.50 |
$20,500 |
$9,942.50 |
The total maximum outstanding debt allowed is:
| Dependent Undergraduate |
$23,000 |
| Independent Undergraduate |
$46,000(2) |
| Graduate or Professional Student(3) |
$138,500(4) |
1. The law only allows credits transcripted by the Office of the Registrar for certification of a loan.
2. Of the $46,000 no more than $23,000 may be subsidized loans.
3. Includes any Federal Stafford Loan and/or Federal Supplemental Loans for Students received as an undergraduate.
4. Of the total maximum of $138,500 no more than $65,500 may be subsidized loans.
These loan limits are the maximum and must be reduced by other assistance if total cost of education is exceeded. If other aid and loans exceed need then the subsidized is reduced and the unsubsidized is increased.
Students must apply with the FAFSA each year beginning in January for the approaching Fall.
More Stafford Loan information is available in the
List of Financial Aid Programs Information Page.
Office of Financial Aid
134 Adams Administration Building
Troy, Alabama 36082
Phone: 1-800-414-5756
Assistance Available 24 Hours A Day/7 Days A Week
