Are there any limits on how much student loan debt I can have?

In New Mexico, there are no state-mandated limits on the amount of student loan debt you can have. However, this does not mean that you can take out an unlimited amount of student loans. If you are taking out loans from a federal student loan program, the amount of money you can borrow is still regulated by the federal government. The maximum amount of loans you can take out each year is determined by your grade level, your field of study, and your dependency status. There is also a total loan limit that applies to all students, regardless of their educational background. As a general rule, the total amount of student loan debt you can have outstanding at any one time is $138,500, including interest. Note that, once you hit this total loan limit, you are not eligible to receive additional loans. It is important to consider your future debt load as you make decisions about how much money to borrow for your education. You can work with a student loan advisor to create a budget and determine how much money you can borrow and still be able to manage your loan payments after graduation.

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Are there any limits on how much student loan debt I can have?

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