Effective July 1, 2008, annual Stafford loan limits will increase by $2000 for undergraduate students. President Bush signed into law the Ensuring Continued Access to Student Loans Act of 2008 (H.R. 5715) on May 7, 2008, authorizing the increase. For students enrolled as regular students in eligible programs, annual Stafford loan limits are as follows:
| Dependent Students |
Base Amount
(Subsidized or Unsubsidized)
|
Additional Unsubsidized Stafford loan
effective July 1, 2008
|
Freshman [1- 44 credits]
|
$3500
|
$2000
|
Sophomore [45 - 89]
|
$4500
|
$2000
|
Junior/Senior [90 + ]
|
$5500
|
$2000 |
| Independent Students |
Base Amount
(Subsidized or Unsubsidized)
|
Additional Unsubsidized Stafford loan
effective July 1, 2008
|
Freshman [0- 44 credits]
|
$3500
|
$6000
|
Sophomore [45 - 89]
|
$4500
|
$6000
|
Junior/Senior [90 + ]
|
$5500
|
$7000 |
| Graduate Students |
Base Amount
(Subsidized or Unsubsidized)
|
Additional Unsubsidized Stafford loan
|
|
8500
|
$12000
|
Lifetime loan aggregate amounts have also increased as follows:
Undergraduate Dependent Students | $31,000 (of which no more than $23,000 can be subsidized)
Undergraduate Independent Students | $57,500 (of which no more than $23,000 can be subsidized)
Graduate and Professional Students | $138,500 (of which no more than $65,500 can be subsidized)
Current Year 2008 / 2009 | This legislation was passed late into the PSU awarding process and after PSU began awarding. Some awards were produced before this loan increase became authorized and effective. Counselors are working to revise awards as quickly as possible. If your financial aid award offer does not reflect these new loan limits and you are interested in using the increase for the 2008 / 2009 academic year, you may either contact the Office of Financial Aid or
submit a revision requesting an increase to your unsubsidized Stafford loan.
For more information about your Federal Stafford loans contact the Office of Student Financial Aid
phone | 503.725.3461
e-mail | askfa@pdx.edu
web | www.pdx.edu/finiad
