JB Pritzker, Governor, State of Illinois

Loan Amounts

All new federal student loans are administered and funded by the U.S. Department of Education (ED) under the William D. Ford Federal Direct Loan Program (Federal Direct Loans). For information regarding the administration of Federal Direct Loans, refer to the Direct Loans area of ED's FSA Partner Connect – Knowledge Center.

Subsidized and Unsubsidized

In addition to financial need, the amount of student loans that can be borrowed depends upon several factors, such as a student's year in school and whether the loan(s) are subsidized or nonsubsidized. For more detailed information on determining loan periods, annual and aggregate loan limits, and proration, refer to “Volume 3 – Calculating Awards and Packaging” of the Federal Student Aid Handbook.

Federal Stafford Loan Limits

Maximum annual limits for undergraduate and graduate students are monitored by the college based on federal regulations. 

Annual Limits


Total (Subsidized & Unsubsidized)
Dependent Undergraduates    
First Year  $3,500 $5,500 
Second Year $4,500 $6,500 
Third Year and higher $5,500 $7,500 
Independent Undergraduates*    
First Year $3,500 $9,500
Second Year $4,500 $10,500
Third Year and higher $5,500  $12,500
Graduate and Professional Students Not Eligible $20,500
Aggregate Limits Subsidized Total (Subsidized & Unsubsidized) 

Dependent Undergraduates

$23,000 $31,000 
Independent Undergraduates* $23,000 $57,500
Graduate and Professional Students $65,500 $138,500

Additional Information on Loan Limits

  • Certain health professions students may qualify for increased loan limits depending on the program of study.
  • Annual loan limits for undergraduate students are prorated.
  • *Independent students may qualify for additional unsubsidized Stafford loan amounts. Dependent students may also qualify for additional amounts if determined eligible by the financial aid administrator or if the parents do not qualify for a Federal PLUS loan.
  • Preparatory and Teacher Certification students have increased loan limits.

Federal PLUS Loan Limit

The annual maximum amount that can be borrowed under the Federal PLUS Loan Program is equal to the cost of attendance minus (-) financial aid received. There is no aggregate maximum.

Interest Rates, Fees and Disbursements

Direct Loan Rates and Fees

Loans are generally disbursed in at least two installments, and proceeds are electronically transmitted to the college.