Federal Financial Aid Programs
There are three types of Federal Financial Aid:
1. Grants are financial aid that doesn't have to be repaid (unless, for example, you withdraw from school and owe a refund).
2. Work-study is a work program through which you earn money to help you pay for school*
3. Loans are borrowed money for college or career school; you must repay your loans, with interest.
- Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school.
- Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate and professional students, but eligibility is not based on financial need.
- Direct PLUS Loans are loans made to parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
| FEDERAL LOAN LIMITS | ||||
| CATEGORY | GRADE LEVEL | ANNAUL LIMIT | SUBSIDIZED CAP | AGGREGATE LIMIT |
| Undergraduate Independent Student | Grade Level 2 | $10,500 | $4,500 | $57,500 total (Max $23,000 subsidized |
| Undergraduate Independent Student | Grade Level 3 & 4 | $12,500 | $5,500 | |
| Undergraduate Dependent Student | Grade Level 2 | $6,500 | $4,500 | $31,000 total (Max $23,000 subsidized) |
| Undergraduate Dependent Student | Grade Level 3 & 4 | $7,500 | $5,500 | |
| Beginning with the the 2026-27 award year, federal student loans must be prorated if you are not a full-time student for the academic year. | ||||
| Parent of Undergraduate Dependent Student (Parent PLUS Loan) | Grade Level 1-4 | $20,000 Per dependent student | N/A | $65,000 Per dependent student (without regard to amounts forgiven, repaid, canceled, or discharged) |
| Graduate Student (DE-MSN) | Master's | $20,500 | N/A | $100,000 |
