Summer Stafford Loans

There are annual loan maximums that students may borrow, depending on class level and dependency status. There are also cumulative maximum amounts students may borrow over the course of their years of study. The charts below display the maximums available.

If you are borrowing Stafford Loan in fall, winter and/or spring terms and think you are likely to want to borrow again for summer term, you have two choices:

1. Borrow the maximum amounts offered to you and save a portion of each disbursement for use in summer term
2. At the time you respond to your initial aid offer, indicate you want to borrow less than the maximum amount. This will result in some remaining loan eligibility being left for summer term enrollment, as shown in Examples B and D below.

If you received your class level maximum Stafford Loan in fall, winter and spring as a freshman or sophomore and advance to the next class level before summer (or begin a graduate degree), you may receive Stafford Loan in summer for the next grade level (Examples C and E).

1. Dependent freshman borrowed $3500 subsidized Stafford Loan in fall, winter and spring. This student has passed 40 credits by the end of spring term (still a freshman). No remaining Stafford Loan eligibility for summer.
2. Independent freshman borrowed $3500 subsidized Stafford Loan but no unsubsidized Stafford Loan in fall, winter and spring. A maximum of $4000 unsubsidized Stafford Loan would be available to this student.
3. Dependent freshman borrowed $3500 subsidized Stafford Loan in fall, winter and spring. This student has passed 50 credits by the end of spring term, making them a sophomore. This student would have a maximum of $1000 available to borrow in summer term (dependent sophomore maximum of $4500 minus $3500 = $1,000).
4. Independent senior borrowed $4500 subsidized Stafford Loan and $2000 unsubsidized Stafford Loan in fall, winter and spring. A maximum of $1000 subsidized and $3000 unsubsidized would be available to this student.
5. Independent senior borrowed $5500 subsidized Stafford Loan and $5000 unsubsidized Stafford Loan in fall, winter and spring. This student graduated at the end of spring and begins a Master's degree program in summer. This student would have a maximum of $3000 subsidized and $7000 unsubsidized Stafford Loan available for summer (although most students do not have costs for summer term that would allow borrowing $10000 for one term!).
6. Independent junior borrowed $10,500 unsubsidized Stafford Loan in fall, winter and spring. At the end of spring term, the student is a senior. However, no additional loan would be available in summer, since the annual loan maximum is the same for juniors and seniors.