What Are the Maximum Loans that I Can Borrow as an Undergraduate Student?
At Morehouse College, the maximum federal student loan amounts you can borrow as an undergraduate student depend on your year in school and dependency status. Here's a breakdown of the annual and aggregate loan limits for Direct Subsidized and Unsubsidized Loans:
Annual Loan Limits:
| Academic Year |
Dependent Students |
Independent Students |
| First-Year Undergraduate Annual Loan Limit |
$5,500-No more than $3,500 of this amount may be in subsidized loans. |
$9,500-No more than $3,500 of this amount may be in subsidized loans. |
| Second-Year Undergraduate Annual Loan Limit |
$6,500-No more than $4,500 of this amount may be in subsidized loans. |
$10,500-No more than $4,500 of this amount may be in subsidized loans. |
| Third Year and Beyond Undergraduate Annual Loan Limit |
$7,500 per year-No more than $5,500 of this amount may be in subsidized loans. |
$12,500-No more than $5,500 of this amount may be in subsidized loans. |
Aggregate Loan Limits (Total over undergraduate career):
| Dependent Students |
$31,000 (no more than $23,000 subsidized) |
| Independent Students |
$57,500 (no more than $23,000 subsidized) |
These limits are set by the U.S. Department of Education and apply regardless of the institution, including Morehouse College. The actual amount you can borrow may be less depending on your cost of attendance and other financial aid received.