How much can I borrow in student loans?

The amount of student loans you can borrow in North Carolina depends on several factors, such as your financial need and the type of loan program you’re using. Generally, the maximum amount you can borrow each academic year is the cost of attendance minus other aid you may have received. For students borrowing from the Federal Direct Student Loan Program, the maximum loan amount for an undergraduate student who is a dependent is $5,500 per year (with up to $3,500 of that total being an Unsubsidized loan) and the maximum loan amount for an undergraduate student who is independent is $9,500 per year (with up to $3,500 of that total being an Unsubsidized loan). For loans from the Federal Parent PLUS Loan Program, the maximum loan amount is the cost of attendance minus other aid you may have received. It is important to remember that borrowing more money than you need can have serious financial implications, so it’s best to borrow only the amount you need. Additionally, it is important to remember that student loan debt must be paid back with interest. Before taking out any loan, be sure to consider the interest rates, repayment plans, fees, and other important loan information so that you are fully informed before signing a loan agreement.

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How much can I borrow in student loans?

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