How much can I borrow in student loans?

In Florida, the amount you can borrow in student loans depends on the type of loan you take out. If you are taking out a federal Direct Subsidized Loan or a federal Direct Unsubsidized Loan, the amount you are allowed to borrow is determined by your school and other factors such as your cost of attendance, your year in school, and your Dependency Status. For Direct Subsidized Loans, the limit is normally around $5,500 for first-year students, $6,500 for second-year students, and $7,500 for third-year and beyond students. If you are a Dependent student, you are also limited by your Expected Family Contribution (EFC), which limits the amount of loan you can borrow to the cost of attendance minus your EFC. For Direct Unsubsidized Loans, the limit is normally around $9,500 for first-year students, $10,500 for second-year students, and $12,500 for third-year and beyond students. Dependent students are also limited to the cost of attendance minus their EFC, while independent students can borrow up to $20,500 each year. The limits for federal student loans are subject to change, so it’s important to speak to your school’s financial aid office to find out what the most up-to-date limits are. Additionally, you may be able to take out a private loan to supplement your federal loan if you need additional funds.

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How much can I borrow in student loans?

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