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.
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Updated · 2 min read
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Nerdy takeaways
  • If you're an undergraduate, the maximum amount you can borrow in direct federal loans is $57,500.

  • Graduate students can borrow up to $138,500 total in direct federal loans, including undergraduate borrowing.

  • Federal parent and graduate PLUS loans are capped at your school's total cost of attendance.

  • Private student loans are generally limited at your school's total cost of attendance.

Student loans aren’t limitless. The maximum amount you can borrow depends on factors including whether they’re federal or private loans 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.

But just because you can borrow that much 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.

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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 accrues while 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 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 student is in school or during deferment periods.

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.

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 on 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.

Here are the undergraduate borrowing limits for federal direct student loans:

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.

There are no specific caps on PLUS loan borrowing. 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, and 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

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Private student loan limits

Private student loan limits vary by lender. Generally, the amount you borrow can’t exceed your school’s total cost of attendance, less other financial aid you may have receive.

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.

Here are the latest private student loan borrowing limits, by lender:

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